QUALCOMM (NASDAQ:QCOM) had its price objective boosted by investment analysts at Wells Fargo & Co from $70.00 to $90.00 in a research report issued to clients and investors on Thursday, The Fly reports. Wells Fargo & Co‘s price objective would indicate a potential downside of 14.78% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities raised their target price on shares of QUALCOMM from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank raised their target price on shares of QUALCOMM from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Tigress Financial restated a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Finally, KeyCorp raised their target price on shares of QUALCOMM from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.36.
Shares of NASDAQ QCOM opened at $105.61 on Thursday. QUALCOMM has a one year low of $58.00 and a one year high of $107.75. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.57 and a quick ratio of 1.39. The firm’s 50 day simple moving average is $90.67 and its two-hundred day simple moving average is $82.54. The stock has a market capitalization of $118.80 billion, a P/E ratio of 44.56, a PEG ratio of 1.72 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 74.38%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business earned $0.80 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts expect that QUALCOMM will post 3.08 earnings per share for the current fiscal year.
In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 11,038 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $87.68, for a total value of $967,811.84. Following the transaction, the executive vice president now directly owns 3,591 shares of the company’s stock, valued at approximately $314,858.88. The disclosure for this sale can be found here. Insiders have sold 235,740 shares of company stock valued at $22,024,427 in the last three months. Insiders own 0.12% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of QCOM. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of QUALCOMM by 31.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,178,776 shares of the wireless technology company’s stock worth $417,994,000 after purchasing an additional 1,467,770 shares during the last quarter. Public Investment Fund purchased a new position in shares of QUALCOMM in the 1st quarter worth about $77,798,000. Schroder Investment Management Group raised its position in shares of QUALCOMM by 159.5% in the 1st quarter. Schroder Investment Management Group now owns 1,765,685 shares of the wireless technology company’s stock worth $125,275,000 after purchasing an additional 1,085,233 shares during the last quarter. PGGM Investments purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $88,983,000. Finally, APG Asset Management N.V. raised its position in shares of QUALCOMM by 75.8% in the 1st quarter. APG Asset Management N.V. now owns 1,764,837 shares of the wireless technology company’s stock worth $119,391,000 after purchasing an additional 760,900 shares during the last quarter. 74.50% of the stock is owned by hedge funds and other institutional investors.
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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