Qualcomm, Inc. (NASDAQ: QCOM) has seen a decline in its stock price by -1.34 in relation to its previous close of 215.47. However, the company has experienced a -2.40% decline in its stock price over the last five trading sessions. investorplace.com reported 2024-06-21 that I guess it’s okay to stop worrying about Federal Reserve interest rate cuts. While the stock market continued climbing to new all-time highs as we moved from possibly six cuts this year to three, then to one, new reports of much higher-than-expected industrial production in May suggests we may not get any cuts until next year.
Is It Worth Investing in Qualcomm, Inc. (NASDAQ: QCOM) Right Now?
The price-to-earnings ratio for Qualcomm, Inc. (NASDAQ: QCOM) is 28.57x, which is above its average ratio. Moreover, the 36-month beta value for QCOM is 1.28. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 3 as “overweight,” 13 as “hold,” and 0 as “sell.”
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The public float for QCOM is 1.11B and currently, short sellers hold a 1.80% of that float. On June 21, 2024, QCOM’s average trading volume was 8.90M shares.
QCOM’s Market Performance
QCOM stock saw an increase of -2.40% in the past week, with a monthly gain of 5.84% and a quarterly increase of 24.42%. The volatility ratio for the week is 3.42%, and the volatility levels for the last 30 days are 3.05% for Qualcomm, Inc. (QCOM). The simple moving average for the last 20 days is 0.88% for QCOM stock, with a simple moving average of 41.59% for the last 200 days.
Analysts’ Opinion of QCOM
Many brokerage firms have already submitted their reports for QCOM stocks, with TD Cowen repeating the rating for QCOM by listing it as a “Buy.” The predicted price for QCOM in the upcoming period, according to TD Cowen is $235 based on the research report published on June 04, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see QCOM reach a price target of $245, previously predicting the price at $180. The rating they have provided for QCOM stocks is “Buy” according to the report published on May 31st, 2024.
The Benchmark Company gave a rating of “Buy” to QCOM, setting the target price at $200 in the report published on April 23rd of the current year.
QCOM Trading at 12.06% from the 50-Day Moving Average
After a stumble in the market that brought QCOM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.83% of loss for the given period.
Volatility was left at 3.05%, however, over the last 30 days, the volatility rate increased by 3.42%, as shares surge +4.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.82% upper at present.
During the last 5 trading sessions, QCOM fell by -2.87%, which changed the moving average for the period of 200-days by +81.52% in comparison to the 20-day moving average, which settled at $211.16. In addition, Qualcomm, Inc. saw 46.98% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QCOM starting from THOMPSON JAMES H, who sale 8,000 shares at the price of $209.61 back on Jun 03 ’24. After this action, THOMPSON JAMES H now owns 245,893 shares of Qualcomm, Inc., valued at $1,676,880 using the latest closing price.
Palkhiwala Akash J., the CFO & COO of Qualcomm, Inc., sale 3,000 shares at $205.77 during a trade that took place back on Jun 03 ’24, which means that Palkhiwala Akash J. is holding 63,343 shares at $617,299 based on the most recent closing price.
Stock Fundamentals for QCOM
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.56 for the gross margin
The net margin for Qualcomm, Inc. stands at 0.23. The total capital return value is set at 0.19. Equity return is now at value 38.26, with 16.65 for asset returns.
Based on Qualcomm, Inc. (QCOM), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.86. The debt to equity ratio resting at 0.63. The interest coverage ratio of the stock is 12.22.
Currently, EBITDA for the company is 9.6 billion with net debt to EBITDA at 0.59. When we switch over and look at the enterprise to sales, we see a ratio of 6.69. The receivables turnover for the company is 11.92for trailing twelve months and the total asset turnover is 0.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.65.
Conclusion
To wrap up, the performance of Qualcomm, Inc. (QCOM) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
