Canaccord Genuity Group Increases QUALCOMM (NASDAQ:QCOM) Price Target to $206.00

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by investment analysts at Canaccord Genuity Group from $180.00 to $206.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 14.67% from the company’s previous close.

QCOM has been the subject of several other reports. UBS Group boosted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Trading Down 0.3 %

NASDAQ QCOM traded down $0.46 during trading hours on Thursday, hitting $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The business’s 50 day moving average is $167.69 and its 200-day moving average is $146.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The firm has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock worth $7,429,728 over the last ninety days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in QCOM. 9258 Wealth Management LLC increased its holdings in shares of QUALCOMM by 0.9% during the first quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after purchasing an additional 91 shares during the period. Gould Asset Management LLC CA acquired a new position in QUALCOMM during the 1st quarter valued at about $226,000. WBI Investments LLC raised its position in shares of QUALCOMM by 50.3% during the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock worth $2,220,000 after buying an additional 4,387 shares in the last quarter. Team Hewins LLC lifted its stake in shares of QUALCOMM by 2.2% in the 1st quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after acquiring an additional 167 shares during the period. Finally, Affinity Investment Advisors LLC boosted its holdings in shares of QUALCOMM by 4.2% in the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock valued at $1,692,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds 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.