QUALCOMM (NASDAQ:QCOM) PT Raised to $170.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by investment analysts at Citigroup from $160.00 to $170.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the wireless technology company’s stock. Citigroup’s price target would indicate a potential downside of 5.37% from the stock’s previous close.

QCOM has been the topic of a number of other reports. UBS Group lifted their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays lifted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Mizuho lifted their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $0.46 during midday trading on Thursday, hitting $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The business’s 50 day simple moving average is $167.69 and its 200 day simple moving average is $146.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The company has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results 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. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts forecast that QUALCOMM will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth $27,000. Legacy Financial Group LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth $29,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth $32,000. 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.