QUALCOMM (NASDAQ:QCOM) PT Raised to $185.00

QUALCOMM (NASDAQ:QCOM) had its price target upped by Barclays from $155.00 to $185.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the wireless technology company’s stock. Barclays‘s price objective would suggest a potential upside of 2.98% from the stock’s current price.

A number of other analysts also recently commented on the company. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price objective for the company. Morgan Stanley raised their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday. 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. Finally, Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. 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 stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.46 during mid-day trading on Thursday, hitting $179.64. 10,043,912 shares of the company’s stock traded hands, compared to its average volume of 8,171,053. The firm has a 50 day moving average of $167.69 and a two-hundred day moving average of $146.59. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The firm has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, equities analysts forecast that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM 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 transaction, the chief technology officer now 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 this link. In related 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 value of $1,456,000.00. Following the sale, the chief technology officer now 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 completion of the sale, 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 quarter, insiders sold 44,260 shares of company stock worth $7,429,728. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 9258 Wealth Management LLC raised its holdings in QUALCOMM by 0.9% during the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after acquiring an additional 91 shares during the period. Gould Asset Management LLC CA bought a new stake in QUALCOMM during the 1st quarter valued at $226,000. WBI Investments LLC raised its holdings in QUALCOMM by 50.3% during the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after acquiring an additional 4,387 shares during the period. Team Hewins LLC raised its holdings in QUALCOMM by 2.2% during the 1st quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock valued at $1,314,000 after acquiring an additional 167 shares during the period. Finally, Affinity Investment Advisors LLC raised its holdings in QUALCOMM by 4.2% during the 1st quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock valued at $1,692,000 after acquiring an additional 400 shares during the period. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.