QUALCOMM Incorporated [QCOM] Stock trading around $106.69 per share: What’s Next?

QUALCOMM Incorporated [NASDAQ: QCOM] traded at a high on 11/04/22, posting a 2.71 gain after which it closed the day’ session at $106.69. The company report on November 3, 2022 that U.S. Technology Leadership and Patents: What Can the Data Tell Us?.

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By Kirti Gupta, VP, Technology & Economic Strategy, Qualcomm Incorporated.

The results of the trading session contributed to over 11964709 shares changing hands. Over the past one week, the price volatility of QUALCOMM Incorporated stands at 3.85% while the volatility over the past one month is 4.36%.

The market cap for QCOM stock reached $120.15 billion, with 1.12 billion shares outstanding and 1.12 billion shares in the current float. Compared to the average trading volume of 7.64M shares, QCOM reached a trading volume of 11964709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about QUALCOMM Incorporated [QCOM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QCOM shares is $153.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QCOM stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for QUALCOMM Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets dropped their target price from $220 to $170. The new note on the price target was released on October 11, 2022, representing the official price target for QUALCOMM Incorporated stock. Previously, the target price had yet another raise to $150, while DZ Bank analysts kept a Hold rating on QCOM stock.

The Average True Range (ATR) for QUALCOMM Incorporated is set at 5.24, with the Price to Sales ratio for QCOM stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 7.46, with the Price to Cash per share for the same quarter was set at 6.08. Price to Free Cash Flow for QCOM in the course of the last twelve months was 34.04 with Quick ratio for the last quarter at 1.10.

How has QCOM stock performed recently?

QUALCOMM Incorporated [QCOM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.50. With this latest performance, QCOM shares dropped by -14.84% in over the last four-week period, additionally sinking by -24.11% over the last 6 months – not to mention a drop of -31.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QCOM stock in for the last two-week period is set at 37.82, with the RSI for the last a single of trading hit 35.69, and the three-weeks RSI is set at 38.93 for QUALCOMM Incorporated [QCOM]. The present Moving Average for the last 50 days of trading for this stock 120.71, while it was recorded at 111.61 for the last single week of trading, and 140.60 for the last 200 days.

QUALCOMM Incorporated [QCOM]: Deeper insight into the fundamentals

QUALCOMM Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.

Earnings analysis for QUALCOMM Incorporated [QCOM]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QCOM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for QUALCOMM Incorporated go to 11.09%.

Insider trade positions for QUALCOMM Incorporated [QCOM]

There are presently around $87,007 million, or 74.20% of QCOM stock, in the hands of institutional investors. The top three institutional holders of QCOM stocks are: VANGUARD GROUP INC with ownership of 106,941,425, which is approximately 1.277% of the company’s market cap and around 0.14% of the total institutional ownership; BLACKROCK INC., holding 82,226,705 shares of the stock with an approximate value of $8.77 billion in QCOM stocks shares; and STATE STREET CORP, currently with $5.02 billion in QCOM stock with ownership of nearly -2.277% of the company’s market capitalization.

1,219 institutional holders increased their position in QUALCOMM Incorporated [NASDAQ:QCOM] by around 42,726,301 shares. Additionally, 988 investors decreased positions by around 50,491,682 shares, while 288 investors held positions by with 722,294,345 shares. The mentioned changes placed institutional holdings at 815,512,328 shares, according to the latest SEC report filing. QCOM stock had 126 new institutional investments in for a total of 3,868,556 shares, while 177 institutional investors sold positions of 4,531,128 shares during the same period.


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