QUALCOMM Incorporated [NASDAQ: QCOM] stock went on an upward path that rose over 6.62% on Monday, amounting to a one-week price increase of more than 8.97%. The company report on January 20, 2023 that 5G Technology Is Key to Closing the Digital Divide: Qualcomm Report.
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As it continues to play a major role in the world’s digital transformation, 5G technology also holds the potential to close the digital divide, ushering in a more connected and intelligent tomorrow, Qualcomm Incorporated said today in a new white paper. The report – “5G and the Digital Divide” – calls for making the closing of the digital divide a top policy priority and explains how, although the divide has been narrowed, it still persists around the world. Getting all stakeholders aligned on unleashing the full potential of 5G technology is key to intelligently connecting everything everywhere, the report states.
“Qualcomm® 5G technology has the potential to close the digital divide and create transformational change, particularly for disadvantaged and underserved populations,” said Kirti Gupta, Vice President, Technology & Economic Strategy, Qualcomm Incorporated. “As a leader in advanced 5G solutions, it is our responsibility to ensure the world understands the importance and potential of this technology. With everyone pulling in the same direction, the world will benefit greatly from the widespread implementation of 5G mobile and FWA technology.”.
Over the last 12 months, QCOM stock dropped by -21.30%. The one-year QUALCOMM Incorporated stock forecast points to a potential upside of 10.35. The average equity rating for QCOM stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $140.53 billion, with 1.12 billion shares outstanding and 1.12 billion shares in the current float. Compared to the average trading volume of 8.33M shares, QCOM stock reached a trading volume of 13413240 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $146.15 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 2.20. 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.
Barclays have made an estimate for QUALCOMM Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2023. The new note on the price target was released on December 12, 2022, representing the official price target for QUALCOMM Incorporated stock. Previously, the target price had yet another raise to $150, while Credit Suisse analysts kept a Outperform rating on QCOM stock.
The Average True Range (ATR) for QUALCOMM Incorporated is set at 4.40, with the Price to Sales ratio for QCOM stock in the period of the last 12 months amounting to 3.18. The Price to Book ratio for the last quarter was 8.15, with the Price to Cash per share for the same quarter was set at 5.95. Price to Free Cash Flow for QCOM in the course of the last twelve months was 38.80 with Quick ratio for the last quarter at 1.20.
QCOM Stock Performance Analysis:
QUALCOMM Incorporated [QCOM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.97. With this latest performance, QCOM shares gained by 16.89% in over the last four-week period, additionally sinking by -14.75% over the last 6 months – not to mention a drop of -21.30% 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 66.84, with the RSI for the last a single of trading hit 73.10, and the three-weeks RSI is set at 62.13 for QUALCOMM Incorporated [QCOM]. The present Moving Average for the last 50 days of trading for this stock 118.44, while it was recorded at 122.77 for the last single week of trading, and 128.93 for the last 200 days.
Insight into QUALCOMM Incorporated Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and QUALCOMM Incorporated [QCOM] shares currently have an operating margin of +33.49 and a Gross Margin at +57.84. QUALCOMM Incorporated’s Net Margin is presently recorded at +29.38.
Return on Equity for this stock inclined to 92.88, with Return on Assets sitting at 28.78.
QUALCOMM Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.
QCOM Stock EPS
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 -7.47%.
QUALCOMM Incorporated [QCOM] Insider Position Details
There are presently around $104,948 million, or 74.10% of QCOM stock, in the hands of institutional investors. The top three institutional holders of QCOM stocks are: VANGUARD GROUP INC with ownership of 108,549,542, which is approximately 1.504% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 82,719,169 shares of the stock with an approximate value of $10.84 billion in QCOM stocks shares; and STATE STREET CORP, currently with $6.23 billion in QCOM stock with ownership of nearly 1.115% of the company’s market capitalization.
Positions in QUALCOMM Incorporated stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1,147 institutional holders increased their position in QUALCOMM Incorporated [NASDAQ:QCOM] by around 33,678,293 shares. Additionally, 1,035 investors decreased positions by around 37,286,371 shares, while 284 investors held positions by with 729,984,160 shares. The mentioned changes placed institutional holdings at 800,948,824 shares, according to the latest SEC report filing. QCOM stock had 132 new institutional investments in for a total of 5,107,233 shares, while 150 institutional investors sold positions of 2,141,931 shares during the same period.