QUALCOMM (NASDAQ:QCOM) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Barclays reiterated a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research note on Friday, January 18th. Raymond James set a $65.00 price objective on shares of QUALCOMM and gave the stock a “buy” rating in a research note on Saturday, February 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Mizuho reiterated a “buy” rating and set a $82.00 price objective (up previously from $62.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Finally, BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $76.32.

Shares of QUALCOMM stock opened at $81.97 on Tuesday. The stock has a market capitalization of $96.69 billion, a PE ratio of 25.70, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. QUALCOMM has a 1 year low of $48.56 and a 1 year high of $82.52.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company’s revenue for the quarter was down 21.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. Sell-side analysts forecast that QUALCOMM will post 3.14 earnings per share for the current year.

In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the transaction, the president now owns 37,614 shares in the company, valued at approximately $2,256,840. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of QCOM. Oregon Public Employees Retirement Fund grew its position in QUALCOMM by 9,505.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after purchasing an additional 33,262,770 shares during the last quarter. Norges Bank bought a new position in QUALCOMM in the 4th quarter worth about $736,806,000. Morgan Stanley boosted its holdings in shares of QUALCOMM by 163.2% in the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after acquiring an additional 11,713,988 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of QUALCOMM by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after acquiring an additional 5,022,323 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of QUALCOMM by 28.8% in the third quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after acquiring an additional 2,058,096 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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