QUALCOMM (NASDAQ:QCOM) Price Target Raised to $185.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by analysts at Piper Sandler from $165.00 to $185.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the wireless technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 3.46% from the stock’s current price.

QCOM has been the topic of several other research reports. Susquehanna upped 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. HSBC upped their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. 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 currently has an average rating of “Moderate Buy” and an average target price of $177.50.

QUALCOMM Trading Up 9.0 %

Shares of QUALCOMM stock traded up $14.71 during trading on Thursday, reaching $178.82. 19,167,433 shares of the company were exchanged, compared to its average volume of 8,657,833. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $181.69. 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 $199.56 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.27 and a beta of 1.33. The business has a 50-day moving average price of $166.69 and a 200-day moving average price of $145.87.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Sell-side analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. raised its position in QUALCOMM by 102.5% during the 3rd 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 in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter valued at $27,000. Legacy Financial Group LLC bought a new stake in QUALCOMM during the 3rd quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. raised its position in QUALCOMM by 327.1% during the 4th 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 in the last quarter. Finally, DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the 4th quarter valued at $32,000. 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.