QUALCOMM’s (QCOM) Outperform Rating Reiterated at Cowen

QUALCOMM (NASDAQ:QCOM)‘s stock had its “outperform” rating reissued by stock analysts at Cowen in a report issued on Wednesday, Briefing.com Automated Import reports. They currently have a $91.00 price objective on the wireless technology company’s stock, up from their previous price objective of $70.00. Cowen’s price target indicates a potential upside of 15.07% from the company’s current price.

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Barclays reissued a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho decreased their price target on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 31st. UBS Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Finally, ValuEngine lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $77.05.

Shares of NASDAQ:QCOM traded up $8.63 during mid-day trading on Wednesday, reaching $79.08. 155,967,955 shares of the company were exchanged, compared to its average volume of 16,975,070. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. The stock has a market capitalization of $69.21 billion, a P/E ratio of 24.79, a PEG ratio of 1.81 and a beta of 1.22. QUALCOMM has a 1 year low of $48.56 and a 1 year high of $82.52.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was down 21.3% compared to the same quarter last year. Research analysts forecast that QUALCOMM will post 3.21 earnings per share for the current fiscal year.

In related news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Lavaca Capital LLC acquired a new position in QUALCOMM in the fourth quarter valued at $25,000. Csenge Advisory Group acquired a new position in QUALCOMM in the third quarter valued at $28,000. Transamerica Financial Advisors Inc. increased its stake in QUALCOMM by 688.5% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares during the period. Brandywine Global Investment Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $36,000. Finally, Pearl River Capital LLC acquired a new position in QUALCOMM in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

About QUALCOMM

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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