QUALCOMM (NASDAQ:QCOM) PT Raised to $200.00

QUALCOMM (NASDAQ:QCOM) had its target price raised by equities researchers at Robert W. Baird from $160.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the wireless technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 11.33% from the company’s current price.

Several other brokerages also recently weighed in on QCOM. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Barclays lifted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. Finally, Benchmark began coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM traded down $0.46 during trading on Thursday, hitting $179.64. 10,043,912 shares of the company were exchanged, compared to its average volume of 8,171,053. The stock has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The firm’s 50 day moving average price is $167.69 and its 200-day moving average price is $146.59.

QUALCOMM (NASDAQ:QCOM) last issued 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, research analysts predict that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock worth $7,429,728 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several large investors have recently bought and sold shares of QCOM. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC grew its position in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after acquiring an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its position in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after acquiring an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after buying an additional 1,842,868 shares during the last quarter. Institutional investors and hedge funds 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.