QUALCOMM (NASDAQ:QCOM) Stock Rating Reaffirmed by Cantor Fitzgerald

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They currently have a $190.00 target price on the wireless technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 5.77% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased 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. Wolfe Research lifted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America lifted their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.46 during midday trading on Thursday, hitting $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG 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. The company has a fifty day simple moving average of $167.69 and a 200 day simple moving average of $146.59. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 firm 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%. As a group, analysts predict that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. 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. In the last quarter, insiders sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of the business. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. boosted its position in shares of 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 acquiring an additional 157 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC boosted its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring 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.