Benchmark Begins Coverage on QUALCOMM (NASDAQ:QCOM)

Stock analysts at Benchmark initiated coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research report issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $200.00 price target on the wireless technology company’s stock. Benchmark’s target price would suggest a potential upside of 24.86% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Cantor Fitzgerald upped their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Thursday, February 1st. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Trading Up 1.6 %

NASDAQ QCOM opened at $160.18 on Tuesday. QUALCOMM has a one year low of $101.47 and a one year high of $177.59. The business’s fifty day moving average is $165.01 and its 200-day moving average is $143.47. The stock has a market capitalization of $178.76 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities research analysts predict that QUALCOMM will post 7.69 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on 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 $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s 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 sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of QCOM. Avior Wealth Management LLC boosted its holdings in shares of QUALCOMM by 1.7% during the 3rd quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock valued at $1,273,000 after purchasing an additional 186 shares during the last quarter. Founders Financial Securities LLC bought a new stake in QUALCOMM in the 3rd quarter worth approximately $327,000. GHP Investment Advisors Inc. raised its holdings in shares of QUALCOMM by 101.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock worth $81,000 after acquiring an additional 373 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of QUALCOMM by 92.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 16,394 shares of the wireless technology company’s stock valued at $1,823,000 after acquiring an additional 7,878 shares during the last quarter. Finally, Garrison Bradford & Associates Inc. lifted its position in QUALCOMM by 26.5% during the third quarter. Garrison Bradford & Associates Inc. now owns 19,274 shares of the wireless technology company’s stock valued at $2,141,000 after purchasing an additional 4,035 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.