QUALCOMM (NASDAQ:QCOM) Price Target Increased to $200.00 by Analysts at Wolfe Research

QUALCOMM (NASDAQ:QCOM) had its target price upped by investment analysts at Wolfe Research from $180.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the wireless technology company’s stock. Wolfe Research’s price objective points to a potential upside of 11.33% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. TD Cowen lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Susquehanna lifted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Benchmark began coverage on QUALCOMM in a report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 target price on the stock. Finally, Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of QUALCOMM stock traded down $0.46 during trading on Thursday, reaching $179.64. 10,043,912 shares of the company were exchanged, compared to its average volume of 8,171,053. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $183.19. The business has a 50-day moving average price of $167.69 and a 200-day moving average price of $146.59. The firm has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 37.09% and a net margin of 23.03%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Sell-side analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. Legacy Financial Group LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds 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.