Qualcomm stock got downgraded Morgan Stanley analysts, sending the shares lower on Monday.
Morgan Stanley analysts reduced their rating on the semiconductor company to equal weight from overweight, while indicating that the stock's valuation gap relative to its industry peers has closed following recent gains. Morgan Stanley analyst James Faucette said the stock should now "perform more in-line with peers" given its balanced risk/reward profile. He hiked his price target on the stock to $90 from $89.
Faucette suggested that Qualcomm shares’ momentum in recent months amid tariff uncertainties coupled with an antitrust lawsuit by the Federal Trade Commission currently being appealed by Qualcomm would mean that potential positive opportunities will likely take longer to have a substantial effect on results.
The RSI Oscillator for QCOM moved out of oversold territory on May 15, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 25 similar instances when the indicator left oversold territory. In of the 25 cases the stock moved higher. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on QCOM as a result. In of 74 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for QCOM just turned positive on May 19, 2023. Looking at past instances where QCOM's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .
QCOM moved above its 50-day moving average on June 01, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where QCOM advanced for three days, in of 322 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where QCOM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
QCOM broke above its upper Bollinger Band on May 26, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for QCOM entered a downward trend on June 01, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.539) is normal, around the industry mean (7.052). P/E Ratio (12.326) is within average values for comparable stocks, (54.079). Projected Growth (PEG Ratio) (1.002) is also within normal values, averaging (2.571). Dividend Yield (0.026) settles around the average of (0.024) among similar stocks. P/S Ratio (3.181) is also within normal values, averaging (11.823).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. QCOM’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of wireless communication systems
A.I.dvisor indicates that over the last year, QCOM has been closely correlated with SWKS. These tickers have moved in lockstep 82% of the time. This A.I.-generated data suggests there is a high statistical probability that if QCOM jumps, then SWKS could also see price increases.
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