KeyBanc maintained its Qualcomm [QCOM] rating to the equivalent of Overweight but changed the price target to $180 from $175, in a research note dated 2021-01-06. That figure represents around a 18.09% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Standpoint Research’s analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in mid December. Meanwhile, Cowen had maintained its rating on QCOM to the earlier “an Outperform” rating, in a research note produced for clients December 09, 2020. In addition, there was no change from Cowen on November 05, 2020. The rater maintained QCOM to “an Outperform” but assigned new target price of $170.
Is QUALCOMM Incorporated [NASDAQ:QCOM] a Good Buy Right Now?
It should be noted that QCOM technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from QUALCOMM Incorporated’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 7.79 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 8.45 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 8.16 million shares.
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QCOM Price Performance
On Wall Street, QUALCOMM Incorporated [NASDAQ:QCOM] finished Tuesday’s session up 2.65% at $152.43. The stock went up to $152.70 at the same session while its lowest single day price was $148.50. In the last five days, it saw a rise of about 3.17%, QUALCOMM Incorporated shares gained by almost 0.06% since the beginning of the year. However, the share price has dropped to as low as -5.36% below its one year high. On 01/04/21, the company shares recorded $155.15, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $147.14. The company’s shares have inclined by 76.20% in the past year. The 50-day SMA achieved is $144.29 while the 200-day SMA is $107.83. Volume dropped to 8.51 million from 9.83 million in the previous session.
QUALCOMM Incorporated [QCOM] Valuation Measures
Notably, QUALCOMM Incorporated [QCOM] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 33.66. The measure means the stock is exchanging at a premium as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 7.21 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means QCOM serve an unattractive investment opportunity compared to its competitors.
QCOM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 149.72 level, and in case of violation of this particular level, it will cause more drop to 147.01 level. On the upper level, 155.41 is still the key resistance. The stock may increase to the subsequent resistance at 153.92. The Relative Strength Index (RSI) pinned on the 14-day chart is 57.61, implying a neutral technical stance while the MACD stands at 2.28, meaning price will increase in the next trading period. Percent R indicator moved to 25.33%, implying bullish price movement. Stochastic %K at 72.12% suggest selling the stock.
What is the short interest in QUALCOMM Incorporated?
Short interest in the QUALCOMM Incorporated stock has plunged, decreasing by -1.46 million shares to total 17.09 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 15.63 million, data from Yahoo Finance shows. The increase of 8.54% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.51% of the overall float for the stock.
QUALCOMM Incorporated’s Biggest Shareholders: Who Owns QUALCOMM Incorporated [QCOM]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 98,201,753 shares or roughly 8.68% of the outstanding QCOM shares. This means their shares have reduced by -309,885 from the 98,201,753 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $7,947,392,219. Details in the latest 13F filings reveal that Fidelity Management & Research Co acquired their 9.37% stake valued at $7,355,466,679 while T. Rowe Price Associates, Inc. added theirs at $7,202,763,970. During the last quarter, Fidelity Management & Research Co raised 4,283,170 of its shares in QUALCOMM Incorporated while T. Rowe Price Associates, Inc. bought 7,866,564 shares. The SSgA Funds Management, Inc.’s holdings currently number 47,135,362 shares at $7184843229.66. According to the firm’s last 13F report, PRIMECAP Management Co. shares in the company at filing stood at 17,646,283 shares, roughly $2,597,003,469.
QCOM Earnings Forecast For The Current Quarter
QUALCOMM Incorporated [QCOM] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $8.23B and an earnings per share of $2.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $7.04B at an EPS of $1.54 for Mar 2021. The estimates represent upside of 8.20% and 11.77% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
QCOM Earnings Estimates For The Current Year
For the financial year, QUALCOMM Incorporated [NASDAQ:QCOM] is expected to bring in revenue of $30.24B. The returns are nearly $8.59 billion higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 7.12, higher than that of FY20 by $2.93. Estimates put this year’s earnings growth at 69.90%, 11.80% for the next, and at an annual 24.18% over the next 5-year period. As for sales, forecasts are for an increase of 39.60% in the current fiscal year and a further 8.20% over the following year.