Cantor Fitzgerald Reaffirms “Neutral” Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a report issued on Thursday, Benzinga reports. They presently have a $190.00 target price on the wireless technology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 6.66% from the stock’s current price.

QCOM has been the topic of several other reports. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Wolfe Research upped their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho lifted their price objective on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $175.23.

QUALCOMM Trading Up 8.5 %

NASDAQ:QCOM traded up $14.03 on Thursday, reaching $178.14. The company’s stock had a trading volume of 14,367,398 shares, compared to its average volume of 8,592,915. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $198.80 billion, a PE ratio of 25.91, a PEG ratio of 2.27 and a beta of 1.33. The business’s 50-day moving average price is $166.69 and its two-hundred day moving average price is $145.87. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $181.69.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QCOM. Grandview Asset Management LLC grew its position in shares of QUALCOMM by 2.3% in the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after buying an additional 62 shares during the last quarter. Tealwood Asset Management Inc. increased its stake in QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares in the last quarter. VERITY Wealth Advisors boosted its position in shares of QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after buying an additional 64 shares during the last quarter. SlateStone Wealth LLC grew its position in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after purchasing an additional 65 shares during the period. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares during the period. 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.