QUALCOMM (NASDAQ:QCOM) Price Target Increased to $185.00 by Analysts at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $170.00 to $185.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the wireless technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.85% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America lifted their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $175.23.

QUALCOMM Trading Up 8.5 %

NASDAQ:QCOM traded up $14.03 during midday trading on Thursday, reaching $178.14. 14,367,398 shares of the stock traded hands, compared to its average volume of 8,592,915. The stock has a market capitalization of $198.80 billion, a P/E ratio of 25.91, a PEG ratio of 2.27 and a beta of 1.33. The company has a fifty day moving average of $166.69 and a 200 day moving average of $145.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $181.69.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, research analysts predict that QUALCOMM will post 7.64 EPS for the current year.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Morgan Stanley raised its stake in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter worth about $2,507,978,000. Finally, Northern Trust Corp grew its stake in shares of QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after acquiring an additional 415,398 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.