QUALCOMM (NASDAQ:QCOM) has been given a $90.00 target price by equities research analysts at Macquarie in a report issued on Thursday, TipRanks reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Macquarie’s price objective points to a potential upside of 35.72% from the company’s current price.
A number of other analysts also recently commented on QCOM. Cfra set a $80.00 price objective on QUALCOMM and gave the stock a “buy” rating in a research report on Thursday. Bank of America dropped coverage on QUALCOMM in a research report on Thursday. Deutsche Bank reiterated a “hold” rating and issued a $74.00 price objective (down previously from $98.00) on shares of QUALCOMM in a research report on Thursday. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of QUALCOMM in a research report on Thursday. Finally, BidaskClub downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Buy” and a consensus price target of $80.05.
Shares of QCOM stock traded down $3.00 during mid-day trading on Thursday, reaching $66.32. The stock had a trading volume of 20,338,585 shares, compared to its average volume of 21,153,108. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM has a one year low of $49.10 and a one year high of $90.34. The company has a market capitalization of $82.32 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.71 and a beta of 1.45.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Sell-side analysts predict that QUALCOMM will post 3.32 earnings per share for the current fiscal year.
In related news, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now directly owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Clark T. Jr. Randt sold 2,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total value of $179,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 949,832 shares of company stock valued at $37,443,538 in the last 90 days. 0.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in QCOM. HL Financial Services LLC increased its stake in shares of QUALCOMM by 0.6% in the 1st quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after buying an additional 128 shares during the period. Advantage Investment Management LLC increased its stake in shares of QUALCOMM by 3.9% in the 1st quarter. Advantage Investment Management LLC now owns 3,492 shares of the wireless technology company’s stock valued at $199,000 after buying an additional 132 shares during the period. Harrington Investments INC increased its stake in shares of QUALCOMM by 1.1% in the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock valued at $784,000 after buying an additional 150 shares during the period. Evolution Wealth Advisors LLC increased its stake in shares of QUALCOMM by 4.6% in the 1st quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 154 shares during the period. Finally, Atlas Brown Inc. increased its stake in shares of QUALCOMM by 3.5% in the 1st quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock valued at $303,000 after buying an additional 179 shares during the period. 77.95% of the stock is owned by hedge funds and other institutional investors.
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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