Qualcomm (NASDAQ:QCOM) shares snapped six straight sessions of gains, as the stock closed 0.4% lower at $207.1 on Tuesday.
The San Diego-based semiconductor maker gained over 4% in the preceding six sessions. The stock has lost more than 40% so far this year, compared to the nearly 17% rise in the broader S&P 500 Index.
QCOM is down 1% over the past one month. The stock closed 1.04% higher on Monday at $207.89.
Looking at Seeking Alpha’s Quant Rating, QCOM has a Hold rating with a score of 3.48 out of 5. The company received A+ in the prospect of profitability, while it got D in valuation and growth.
Turning to the Wall Street community, 22 analysts gave QCOM a Buy and above. 12 analysts have given the stock a Hold recommendation, and two recommended Sell or lower.
Seeking Alpha analysts are also bullish and see the stock as a Buy.
Earlier in May, the company offered up better-than-expected guidance on top of strong second-quarter results.
“FY Q3’24 is somewhat expected to be the trough quarter, and there should be a positive set up going forward, with multiple tailwinds driving growth,” pointed out a recent Seeking Alpha analysis.