QUALCOMM (NASDAQ:QCOM) Price Target Increased to $206.00 by Analysts at Canaccord Genuity Group

QUALCOMM (NASDAQ:QCOMGet Free Report) had its target price boosted by stock analysts at Canaccord Genuity Group from $180.00 to $206.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 14.30% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. KeyCorp raised their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. Finally, HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Check Out Our Latest Research Report on QCOM

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $16.12 during midday trading on Thursday, reaching $180.23. 25,676,521 shares of the company traded hands, compared to its average volume of 8,695,808. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $181.69. The firm’s fifty day moving average price is $166.69 and its two-hundred day moving average price is $145.87. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $201.14 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.

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

Insiders Place Their Bets

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QCOM. Peoples Bank OH purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $219,000. HF Advisory Group LLC bought a new position in QUALCOMM during the 3rd quarter valued at approximately $629,000. Bank Hapoalim BM raised its stake in QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in shares of QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after acquiring an additional 2,818 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

About QUALCOMM

(Get Free Report)

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.

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