Macquarie Lowers QUALCOMM to Neutral (QCOM)

By admin | 6 years ago

QUALCOMM (NASDAQ: QCOM) was downgraded by Macquarie from a “positive” rating to a “neutral” rating in a research note issued on Tuesday.

QCOM has been the subject of a number of other recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of QUALCOMM in a research note to investors on Monday, April 23rd. They now have a $75.00 price target on the stock. Separately, analysts at Scotia Capital raised their price target on shares of QUALCOMM from $74.50 to $78.50 in a research note to investors on Friday, April 20th. They now have an “outperform” rating on the stock. Finally, analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of QUALCOMM in a research note to investors on Thursday, April 19th.

QUALCOMM traded down 0.24% on Tuesday, hitting $63.49. QUALCOMM has a 52-week low of $45.98 and a 52-week high of $68.87. The company has a market cap of $108.8 billion and a price-to-earnings ratio of 19.18.

The company last announced its quarterly results on Wednesday, April 18th. It reported $1.01 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.96 EPS by $0.05. The company’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts expect that QUALCOMM will post $0.92 EPS next quarter.

QUALCOMM Incorporated (Qualcomm) designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies.

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