QUALCOMM Incorporated (QCOM)’s Trend Up, Especially After Forming a Bullish Double Top Pattern

February 14, 2018 - By Adrian Erickson

Investors sentiment decreased to 0.85 in 2017 Q3. Its down 0.13, from 0.98 in 2017Q2. It dropped, as 83 investors sold QUALCOMM Incorporated shares while 490 reduced holdings. 89 funds opened positions while 397 raised stakes. 1.10 billion shares or 0.88% less from 1.11 billion shares in 2017Q2 were reported.
Welch Forbes Ltd has 194,399 shares. Compass Mngmt holds 3.48% or 422,910 shares. Moreover, Butensky & Cohen Fincl Security Incorporated has 1.59% invested in QUALCOMM Incorporated (NASDAQ:QCOM). Rice Hall James Assoc Lc has invested 0.07% in QUALCOMM Incorporated (NASDAQ:QCOM). Bb&T Secs Limited Liability has invested 0.37% in QUALCOMM Incorporated (NASDAQ:QCOM). Holowesko Partners Ltd accumulated 41,100 shares. Mengis Cap Mngmt holds 3.24% or 93,421 shares. Wilbanks Smith & Thomas Asset Mngmt Ltd Limited Liability Company invested in 0.28% or 63,955 shares. Kbc Group Nv holds 176,470 shares or 0.08% of its portfolio. Rech And Mngmt Com, a Massachusetts-based fund reported 2,384 shares. Clear Harbor Asset Mngmt Limited Liability Com accumulated 9,633 shares. Dodge & Cox reported 5,430 shares. 10,065 were accumulated by Alexandria Capital Llc. Korea Invest has 722,276 shares. Parsec Financial Inc has invested 0.91% in QUALCOMM Incorporated (NASDAQ:QCOM).

Since August 20, 2017, it had 0 buys, and 6 insider sales for $3.16 million activity. The insider STERLING MICHELLE M sold $245,919. ROGERS ALEXANDER H sold $19,117 worth of stock or 356 shares.

The chart of QUALCOMM Incorporated (QCOM) shows a double top with $71.61 target or 9.00 % above today’s $65.70 share price. The 5 months chart pattern indicates low risk for the $97.26B company. It was reported on Feb, 14 by Finviz.com. If the $71.61 price target is reached, the company will be worth $8.75 billion more. Double tops are rare but powerful chart patterns.

The stock increased 0.06% or $0.04 during the last trading session, reaching $65.7. About 7.70M shares traded. QUALCOMM Incorporated (NASDAQ:QCOM) has risen 9.31% since February 14, 2017 and is uptrending. It has underperformed by 7.39% the S&P500.

QUALCOMM Incorporated (NASDAQ:QCOM) Ratings Coverage

Among 36 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 16 have Buy rating, 1 Sell and 19 Hold. Therefore 44% are positive. Qualcomm Inc. had 132 analyst reports since July 23, 2015 according to SRatingsIntel. As per Thursday, August 24, the company rating was maintained by RBC Capital Markets. The rating was maintained by Cowen & Co with “Outperform” on Friday, February 12. BMO Capital Markets downgraded the shares of QCOM in report on Friday, July 15 to “Underperform” rating. The stock of QUALCOMM Incorporated (NASDAQ:QCOM) earned “Hold” rating by Northland Capital on Wednesday, September 6. As per Friday, August 14, the company rating was maintained by Canaccord Genuity. Canaccord Genuity maintained QUALCOMM Incorporated (NASDAQ:QCOM) rating on Thursday, July 20. Canaccord Genuity has “Buy” rating and $7000 target. The firm earned “Underperform” rating on Monday, January 23 by CLSA. The firm earned “Buy” rating on Friday, May 26 by Stifel Nicolaus. The stock has “Outperform” rating by Cowen & Co on Thursday, November 5. The stock has “Buy” rating by Rosenblatt on Thursday, January 12.

More notable recent QUALCOMM Incorporated (NASDAQ:QCOM) news were published by: Reuters.com which released: “Qualcomm, Broadcom plan to meet on February 14: sources” on February 12, 2018, also Finance.Yahoo.com with their article: “Did Qualcomm Inc. Make a Promise it Can’t Keep?” published on January 29, 2018, Forbes.com published: “Qualcomm Rejects $121B Broadcom Takeover Bid Entrenched With A Powerful 5G …” on February 09, 2018. More interesting news about QUALCOMM Incorporated (NASDAQ:QCOM) were released by: Reuters.com and their article: “Broadcom scales back Qualcomm board challenge to simple majority” published on February 13, 2018 as well as Seekingalpha.com‘s news article titled: “Qualcomm: NXP Semi. Closure Is Key” with publication date: February 09, 2018.

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