Cfra Reiterates $80.00 Price Target for QUALCOMM (QCOM)

QUALCOMM (NASDAQ:QCOM) has been given a $80.00 price target by stock analysts at Cfra in a research note issued to investors on Thursday, TipRanks reports. The firm currently has a “buy” rating on the wireless technology company’s stock. Cfra’s price objective indicates a potential upside of 20.64% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $55.00 to $95.00 in a report on Tuesday, April 23rd. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $88.00 target price on shares of QUALCOMM in a research note on Tuesday, April 23rd. Mizuho lowered their target price on QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, January 31st. Finally, UBS Group reissued a “neutral” rating and issued a $55.00 target price (down from $64.00) on shares of QUALCOMM in a research note on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.05.

QCOM stock traded down $3.00 during midday trading on Thursday, reaching $66.32. 20,338,585 shares of the company’s stock traded hands, compared to its average volume of 21,153,108. QUALCOMM has a 1-year low of $49.10 and a 1-year high of $90.34. The stock has a market capitalization of $82.32 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.71 and a beta of 1.45. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm posted $0.80 EPS. The business’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts expect that QUALCOMM will post 3.32 earnings per share for the current fiscal year.

In other news, EVP Alexander H. Rogers sold 20,862 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $88.43, for a total value of $1,844,826.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Insiders sold a total of 949,832 shares of company stock worth $37,443,538 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group boosted its position in shares of QUALCOMM by 11.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 18,187 shares of the wireless technology company’s stock worth $1,037,000 after purchasing an additional 1,902 shares during the last quarter. Trust Co. of Toledo NA OH lifted its holdings in QUALCOMM by 1.0% during the first quarter. Trust Co. of Toledo NA OH now owns 47,949 shares of the wireless technology company’s stock worth $2,735,000 after acquiring an additional 479 shares in the last quarter. GYL Financial Synergies LLC bought a new position in QUALCOMM during the first quarter worth about $1,189,000. Nordea Investment Management AB lifted its holdings in QUALCOMM by 65.1% during the first quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock worth $24,915,000 after acquiring an additional 172,283 shares in the last quarter. Finally, B. Riley Wealth Management Inc. lifted its holdings in QUALCOMM by 15.1% during the first quarter. B. Riley Wealth Management Inc. now owns 5,359 shares of the wireless technology company’s stock worth $306,000 after acquiring an additional 704 shares in the last quarter. Institutional investors and hedge funds own 77.95% of the company’s stock.

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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