QUALCOMM (NASDAQ:QCOM) PT Raised to $180.00

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by research analysts at Bank of America from $173.00 to $180.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Bank of America‘s price objective indicates a potential upside of 0.20% from the company’s current price.

QCOM has been the subject of several other reports. Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday. Robert W. Baird increased their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, TD Cowen upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Stock Down 0.3 %

NASDAQ:QCOM traded down $0.46 during mid-day trading on Thursday, reaching $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $183.19. The stock has a fifty day moving average of $167.69 and a 200-day moving average of $146.59. The firm has a market capitalization of $200.48 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities research analysts forecast that QUALCOMM will post 7.64 earnings per share for the current year.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was 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 approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock valued at $7,429,728 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. increased its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 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.