Qualcomm, Inc. (NASDAQ: QCOM) – Suitable For Long Term Buy?

Currently, there are 1.11B common shares owned by the public and among those 1.11B shares have been available to trade.

The company’s stock has a 5-day price change of 0.95% and 17.73% over the past three months. QCOM shares are trading 18.73% year to date (YTD), with the 12-month market performance up to 37.28% higher. It has a 12-month low price of $101.47 and touched a high of $177.59 over the same period. QCOM has an average intraday trading volume of 8.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.00%, 8.70%, and 31.64% respectively.

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Institutional ownership of Qualcomm, Inc. (NASDAQ: QCOM) shares accounts for 76.35% of the company’s 1.11B shares outstanding.

It has a market capitalization of $191.64B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 24.89, while the earnings-per-share (ttm) stands at $6.90. The company has a PEG of 2.98 and a Quick Ratio of 1.88 with the debt-to-equity ratio at 0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.58% over the week and 2.29% over the month.

Analysts forecast that Qualcomm, Inc. (QCOM) will achieve an EPS of $2.31 for the current quarter, $2.16 for the next quarter and $10.76 for 2025. The lowest estimate earnings-per-share for the quarter is $2.27 while analysts give the company a high EPS estimate of $2.36. Comparatively, EPS for the current quarter was $2.15 a year ago. Earnings per share for the fiscal year are expected to increase by 17.20%, and 11.52% over the next financial year.

Looking at the support for the QCOM, a number of firms have released research notes about the stock. TD Cowen stated their Outperform rating for the stock in a research note on February 01, 2024, with the firm’s price target at $160-$170. Citigroup coverage for the Qualcomm, Inc. (QCOM) stock in a research note released on February 01, 2024 offered a Neutral rating with a price target of $160. Cantor Fitzgerald was of a view on January 23, 2024 that the stock is Neutral, while Citigroup gave the stock Buy rating on January 12, 2024, issuing a price target of $160. Morgan Stanley on their part issued Equal-Weight rating on December 08, 2023.

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