QUALCOMM Incorporated [NASDAQ: QCOM] plunged by -$0.76 during the normal trading session on Monday and reaching a high of $116.24 during the day while it closed the day at $114.43. The company report on March 10, 2023 that Qualcomm Announces the Shortlisted Teams for the Qualcomm Vietnam Innovation Challenge 2023.
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Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, today announced the shortlisted companies for the Qualcomm® Vietnam Innovation Challenge 2023 (QVIC) program. Ten startup teams in technology areas such as smart cities, robotics, automotive, Internet of Things (IoT), AgriTech, and more, will each receive a grant of US$10,000 in cash prizes to further develop their proposals during the 8-month incubation period, including technical support, business coaching and intellectual property training. Each startup team may be eligible to receive patent filing financial incentives and may be eligible to compete for cash prizes of US$100,000, US$75,000, and US$50,000 in the finale.
The shortlisted companies were selected based on a variety of qualifications including technical capabilities, innovative products, and patentable technologies, as well as relevancy to Vietnam’s digital transformation and Industry 4.0.
QUALCOMM Incorporated stock has also loss -6.52% of its value over the past 7 days. However, QCOM stock has declined by -6.01% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.34% and gained 4.08% year-on date.
The market cap for QCOM stock reached $129.84 billion, with 1.12 billion shares outstanding and 1.11 billion shares in the current float. Compared to the average trading volume of 7.87M shares, QCOM reached a trading volume of 7668361 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $152.23 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.
Raymond James have made an estimate for QUALCOMM Incorporated shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Barclays raised their target price from $120 to $150. The new note on the price target was released on January 23, 2023, representing the official price target for QUALCOMM Incorporated stock. Previously, the target price had yet another raise to $105, while Wells Fargo analysts kept a Underweight rating on QCOM stock.
The Average True Range (ATR) for QUALCOMM Incorporated is set at 3.58, with the Price to Sales ratio for QCOM stock in the period of the last 12 months amounting to 3.02. The Price to Book ratio for the last quarter was 6.83, with the Price to Cash per share for the same quarter was set at 7.26. Price to Free Cash Flow for QCOM in the course of the last twelve months was 27.23 with Quick ratio for the last quarter at 1.40.
QCOM stock trade performance evaluation
QUALCOMM Incorporated [QCOM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.52. With this latest performance, QCOM shares dropped by -12.33% in over the last four-week period, additionally sinking by -13.34% over the last 6 months – not to mention a drop of -26.04% 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 31.31, with the RSI for the last a single of trading hit 23.18, and the three-weeks RSI is set at 37.48 for QUALCOMM Incorporated [QCOM]. The present Moving Average for the last 50 days of trading for this stock 124.27, while it was recorded at 117.45 for the last single week of trading, and 127.33 for the last 200 days.
QUALCOMM Incorporated [QCOM]: An insightful look at the core 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 1.40 and a Current Ratio set at 2.10.
Earnings per share (EPS) analysis for QUALCOMM Incorporated [QCOM] stock
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 -7.25%.
QUALCOMM Incorporated [QCOM]: Insider Ownership positions
There are presently around $94,199 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 109,998,670, which is approximately 1.335% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 84,332,554 shares of the stock with an approximate value of $9.65 billion in QCOM stocks shares; and STATE STREET CORP, currently with $5.41 billion in QCOM stock with ownership of nearly -0.546% of the company’s market capitalization.
1,124 institutional holders increased their position in QUALCOMM Incorporated [NASDAQ:QCOM] by around 51,889,017 shares. Additionally, 1,166 investors decreased positions by around 44,877,387 shares, while 245 investors held positions by with 726,431,361 shares. The mentioned changes placed institutional holdings at 823,197,765 shares, according to the latest SEC report filing. QCOM stock had 222 new institutional investments in for a total of 4,900,739 shares, while 165 institutional investors sold positions of 5,685,070 shares during the same period.