QUALCOMM (NASDAQ:QCOM) Given Buy Rating at Rosenblatt Securities

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They presently have a $250.00 target price on the wireless technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 42.16% from the company’s current price.

A number of other equities research analysts also recently commented on QCOM. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $206.04.

QUALCOMM Stock Up 1.6 %

NASDAQ QCOM opened at $175.86 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM has a 52 week low of $142.43 and a 52 week high of $230.63. The business’s fifty day simple moving average is $161.70 and its 200-day simple moving average is $166.02. The firm has a market cap of $195.38 billion, a PE ratio of 19.56, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, equities analysts anticipate that QUALCOMM will post 9.16 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of the business. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.