QUALCOMM (NASDAQ:QCOM) Rating Increased to Strong-Buy at StockNews.com

QUALCOMM (NASDAQ:QCOM) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

QCOM has been the subject of several other research reports. Mizuho boosted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Bank of America boosted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Tigress Financial boosted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Stock Performance

QCOM opened at $168.27 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market cap of $187.79 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The stock has a 50-day moving average of $170.82 and a 200-day moving average of $182.16. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. City Holding Co. raised its position in shares of QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the period. Federated Hermes Inc. boosted its position in shares of QUALCOMM by 173.3% during the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after purchasing an additional 534,176 shares in the last quarter. BNP Paribas acquired a new position in shares of QUALCOMM in the 1st quarter valued at $3,104,000. SWP Financial LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $593,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in QUALCOMM by 94.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 988,683 shares of the wireless technology company’s stock worth $196,807,000 after buying an additional 479,722 shares during the period. Institutional investors own 74.35% of the company’s stock.

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.