JP Morgan Raises Qualcomm (NASDAQ:QCOM) Stock To a "Overweight" Rating

12 Month Chart for NASDAQ:QCOM

(NASDAQ:QCOM) by 34.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). Its down 0.07, from 1.08 in 2016Q3.

Despite the company's ongoing tussle with Apple (AAPL), which has compelled its own contract manufacturers to stop paying royalties owed to Qualcomm, Hall thinks that the "valuation gap is too large" given the NXP deal.

Institutional investors have recently made changes to their positions in the stock. Aetna Inc. PA purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $12,411,000. The company has a Return on Assets (ROA) of 7.30%. BlackRock Institutional Trust Company N.A. now owns 39,745,533 shares of the wireless technology company's stock valued at $2,722,569,000 after buying an additional 780,682 shares during the last quarter. Green Square Capital LLC increased its position in QUALCOMM by 26.0% in the first quarter. Financial Advisors Network Inc. now owns 4,970 shares of the wireless technology company's stock worth $275,000 after buying an additional 469 shares in the last quarter. Finally, Ray Gerald L & Associates Ltd. boosted its stake in shares of QUALCOMM by 19.4% in the third quarter. Breaking that down further, it has performed 4.25% for the week, 9.51% for the month, 2.14% over the last quarter, -13.02% for the past half-year and 9.31% for this previous year.

Among 5 analysts covering Manhattan Assoc (NASDAQ:MANH), 3 have Buy rating, 0 Sell and 2 Hold. QUALCOMM, Inc. has a 52 week low of $50.84 and a 52 week high of $71.62. (NASDAQ:QCOM) traded down 0.10% on Tuesday, reaching $59.22.

About 13.14 million shares traded or 1.39% up from the average. The company has market cap of $90.00 billion.

We see here that the stock is 8.51% away from the 20-Day Simple Moving Average. QUALCOMM also saw some unusual options trading activity on Friday. Traders purchased 2,710 put options on the stock. This represents an increase of approximately 233% compared to the average volume of 813 put options.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 19th. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. Likewise, the upbeat performance for the last quarter was 4.46% and for the full year it was 8.73%. During the same quarter past year, the business posted $1.04 EPS.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Washington has 3,491 shares for 0.01% of their portfolio. Now it is offering a dividend yield of 3.95% and a 5 year dividend growth rate of 20.05%.

Now the P/E of QUALCOMM Incorporated stands at 19.72. The legal version of this piece of content can be viewed at "(QCOM) Position Boosted by Somerset Trust Co" was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and worldwide copyright and trademark laws. California State Teachers Retirement invested 0.42% in QUALCOMM, Inc.

Several brokerages have commented on QCOM. It worsened, as 104 investors sold QUALCOMM, Inc. shares while 514 reduced holdings.

When it comes to the Analysis of a Stock, Price Target plays a vital role. Cowen and Company reduced their price target on shares of QUALCOMM to $73.00 in a research note on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Finally, Vetr cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating and set a $74.42 price objective for the a research report on Tuesday, January 17th.

In other QUALCOMM news, EVP James H. Thompson sold 25,000 shares of the stock in a transaction on Friday, April 21st. 11,621 shares were sold by ABERLE DEREK K, worth $763,218. Following the completion of the sale, the executive vice president now directly owns 76,246 shares of the company's stock, valued at $4,005,202.38. On Thursday, May 11 the insider Rosenberg Donald J sold $588,767.

In the transaction dated February 03, 2017, the great number of shares acquired came courtesy the EVP and President, QCT; AMON CRISTIANO R added a total of 18,815 shares at an average price of $53.13, amounting to approximately $999,641.

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access.