QUALCOMM (NASDAQ:QCOM) PT Raised to $200.00

QUALCOMM (NASDAQ:QCOM) had its price objective raised by equities research analysts at Wolfe Research from $180.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the wireless technology company’s stock. Wolfe Research’s price target points to a potential upside of 21.87% from the company’s previous close.

QCOM has been the subject of several other research reports. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Bank of America upped their target price on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald raised their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.68.

QUALCOMM Stock Down 1.0 %

NASDAQ:QCOM opened at $164.11 on Thursday. The stock has a fifty day simple moving average of $166.69 and a 200-day simple moving average of $145.87. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $183.15 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts anticipate that QUALCOMM will post 7.64 EPS for the current year.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Morgan Stanley raised its position in QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $2,507,978,000. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after acquiring an additional 415,398 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.