QUALCOMM (NASDAQ:QCOM) Price Target Raised to $175.00

QUALCOMM (NASDAQ:QCOM) had its target price upped by equities research analysts at UBS Group from $165.00 to $175.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the wireless technology company’s stock. UBS Group’s target price would suggest a potential downside of 1.36% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Rosenblatt Securities raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Mizuho boosted their price objective on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Benchmark began coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.55.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $13.31 during trading on Thursday, hitting $177.42. 7,552,075 shares of the company were exchanged, compared to its average volume of 8,510,028. The stock has a 50 day moving average of $166.69 and a 200 day moving average of $145.87. The company has a market cap of $198.00 billion, a PE ratio of 25.71, a P/E/G ratio of 2.27 and a beta of 1.33. 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 has a 52-week low of $101.47 and a 52-week high of $181.25.

QUALCOMM (NASDAQ:QCOM) last issued 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, equities research analysts predict that QUALCOMM will post 7.64 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was 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 directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently modified their holdings of the stock. Peoples Bank OH purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $219,000. HF Advisory Group LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $629,000. Bank Hapoalim BM boosted its stake in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. raised its stake in shares of QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 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.