QUALCOMM (NASDAQ:QCOM) PT Raised to $185.00 at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM) had its price target lifted by JPMorgan Chase & Co. from $170.00 to $185.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the wireless technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.85% from the company’s current price.

Several other equities research analysts also recently commented on QCOM. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. HSBC upped their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Finally, Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.23.

QUALCOMM Price Performance

QCOM stock traded up $14.03 during trading on Thursday, hitting $178.14. 14,367,398 shares of the stock traded hands, compared to its average volume of 8,592,915. The stock has a market cap of $198.80 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM has a one year low of $101.47 and a one year high of $181.69. The company has a 50 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.

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, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Equities analysts expect that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at about $2,507,978,000. International Assets Investment Management LLC increased its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 in the last quarter. Finally, Barclays PLC raised its position in QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after purchasing an additional 1,842,868 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

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.