Sanford C. Bernstein set a $60.00 price objective on QUALCOMM (NASDAQ:QCOM) in a research report report published on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the wireless technology company’s stock.
Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They issued a neutral rating and a $54.00 target price for the company. Mizuho restated a buy rating and issued a $82.00 target price (up from $62.00) on shares of QUALCOMM in a research note on Wednesday. Canaccord Genuity restated a buy rating and issued a $89.00 target price (up from $75.00) on shares of QUALCOMM in a research note on Wednesday. Argus upped their target price on shares of QUALCOMM to $95.00 and gave the company a buy rating in a research note on Wednesday. Finally, Rosenblatt Securities upped their target price on shares of QUALCOMM from $70.00 to $82.00 and gave the company a buy rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $76.32.
Shares of QCOM stock opened at $79.08 on Wednesday. The firm has a market capitalization of $69.21 billion, a PE ratio of 24.79, a PEG ratio of 1.81 and a beta of 1.22. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. QUALCOMM has a twelve month low of $48.56 and a twelve month high of $82.52.
In related news, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.
Several large investors have recently modified their holdings of the business. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $25,000. Csenge Advisory Group acquired a new stake in shares of QUALCOMM in the 3rd quarter worth about $28,000. Transamerica Financial Advisors Inc. increased its holdings in shares of QUALCOMM by 688.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 537 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $36,000. Finally, Pearl River Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $40,000. 83.70% of the stock is currently owned by institutional investors.
QUALCOMM Company Profile
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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