QUALCOMM (NASDAQ:QCOM)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen in a research report issued on Thursday, The Fly reports. They currently have a $100.00 target price on the wireless technology company’s stock, up from their prior target price of $80.00. Cowen’s target price would indicate a potential upside of 6.35% from the stock’s current price.
Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price objective on shares of QUALCOMM in a research note on Monday, July 22nd. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. Finally, Bank of America reduced their price objective on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.18.
Shares of QUALCOMM stock traded up $4.05 during mid-day trading on Thursday, reaching $94.03. 16,371,200 shares of the stock were exchanged, compared to its average volume of 14,163,117. The company has a market cap of $103.89 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. QUALCOMM has a fifty-two week low of $49.10 and a fifty-two week high of $94.11. The firm has a 50-day simple moving average of $78.92 and a 200 day simple moving average of $76.48.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the firm earned $0.90 EPS. QUALCOMM’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, research analysts predict that QUALCOMM will post 3.29 EPS for the current fiscal year.
In other QUALCOMM news, Director Mark D. Mclaughlin acquired 2,705 shares of the stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the acquisition, the director now directly owns 5,220 shares of the company’s stock, valued at $385,444.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 10,398 shares of QUALCOMM stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Insiders have sold a total of 19,118 shares of company stock worth $1,477,392 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in shares of QUALCOMM by 2.5% in the second quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after purchasing an additional 233 shares during the last quarter. Cincinnati Financial Corp increased its holdings in QUALCOMM by 4.9% during the second quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock worth $72,837,000 after buying an additional 45,000 shares during the last quarter. Jennison Associates LLC increased its holdings in QUALCOMM by 996.4% during the second quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock worth $1,162,922,000 after buying an additional 13,893,238 shares during the last quarter. FLC Capital Advisors increased its holdings in QUALCOMM by 36.1% during the second quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock worth $578,000 after buying an additional 2,000 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC acquired a new position in QUALCOMM during the second quarter worth $263,000. Institutional investors own 78.30% of the company’s stock.
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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