Qualcomm, Inc. [QCOM] Stock trading around $171.72 per share: What’s Next?

Qualcomm, Inc. [NASDAQ: QCOM] stock went on an upward path that rose over 1.43% on Monday, amounting to a one-week price increase of more than 0.95%. The company report on March 29, 2024 at 12:15 PM that Qualcomm Announces Shortlisted Teams for the Qualcomm Vietnam Innovation Challenge 2024.

Ten innovative startups selected to participate in an 8-month incubation program with a chance to win $225,000 in cash prizes.

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Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, today announced the shortlisted companies for the Qualcomm® Vietnam Innovation Challenge 2024 (QVIC) program. These ten startup teams, specializing in technology areas such as smart cities, robotics, automotive, Internet of Things (IoT), AgriTech, Generative and other AI, and more, have been chosen to receive a grant of US$10,000 each in cash prizes to further develop their proposals during the 8-month incubation period. The program will provide them with technical support, business coaching, and intellectual property training. Additionally, the teams will have the opportunity to compete for cash prizes of US$100,000, US$75,000, and US$50,000 in the finale. The selection of shortlisted companies was based on various criteria, including their technical capabilities, innovative products, patentable technologies, and relevance to Vietnam’s digital transformation and Industry 4.0.

Over the last 12 months, QCOM stock rose by 37.28%. The one-year Qualcomm, Inc. stock forecast points to a potential downside of -2.26. The average equity rating for QCOM stock is currently 1.97, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $191.64 billion, with 1.11 billion shares outstanding and 1.11 billion shares in the current float. Compared to the average trading volume of 8.94M shares, QCOM stock reached a trading volume of 6675568 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Qualcomm, Inc. [QCOM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QCOM shares is $167.92 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 1.97. 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.

TD Cowen have made an estimate for Qualcomm, Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 01, 2024. The new note on the price target was released on February 01, 2024, representing the official price target for Qualcomm, Inc. stock. Previously, the target price had yet another raise to $150, while Cantor Fitzgerald analysts kept a Neutral rating on QCOM stock.

The Average True Range (ATR) for Qualcomm, Inc. is set at 3.82, with the Price to Sales ratio for QCOM stock in the period of the last 12 months amounting to 5.28. The Price to Book ratio for the last quarter was 8.33, with the Price to Cash per share for the same quarter was set at 10.80. Price to Free Cash Flow for QCOM in the course of the last twelve months was 19.38 with Quick ratio for the last quarter at 1.88.

QCOM Stock Performance Analysis:

Qualcomm, Inc. [QCOM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.95. With this latest performance, QCOM shares gained by 8.83% in over the last four-week period, additionally plugging by 54.56% over the last 6 months – not to mention a rise of 37.28% 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 61.33, with the RSI for the last a single of trading hit 62.34, and the three-weeks RSI is set at 61.23 for Qualcomm, Inc. [QCOM]. The present Moving Average for the last 50 days of trading for this stock 158.50, while it was recorded at 168.95 for the last single week of trading, and 130.68 for the last 200 days.

Insight into Qualcomm, Inc. Fundamentals:

Qualcomm, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.88 and a Current Ratio set at 2.56.


With the latest financial reports released by the company, Qualcomm, Inc. posted 2.15/share EPS, while the average EPS was predicted by analysts to be reported at 2.15/share. 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, Inc. go to 8.34%.

Qualcomm, Inc. [QCOM] Institutonal Ownership Details

The top three institutional holders of QCOM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in QCOM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in QCOM stock with ownership which is approximately 5.8386%.