Qualcomm Stock Hits New 52-Week High (QCOM)

NEW YORK ( TheStreet) -- Qualcomm (Nasdaq: QCOM) hit a new 52-week high Friday as it is currently trading at $63.88, above its previous 52-week high of $63.81 with 2.5 million shares traded as of 10:30 a.m. ET. Average volume has been 13.8 million shares over the past 30 days.

Qualcomm has a market cap of $99.03 billion and is part of the technology sector and telecommunications industry. Shares are up 15.8% year to date as of the close of trading on Thursday.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. The company has a P/E ratio of 22.8, below the average telecommunications industry P/E ratio of 23.3 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Qualcomm as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Qualcomm Ratings Report.

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