Morgan Stanley Increases QUALCOMM (NASDAQ:QCOM) Price Target to $172.00

QUALCOMM (NASDAQ:QCOM) had its price target raised by Morgan Stanley from $158.00 to $172.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the wireless technology company’s stock. Morgan Stanley’s price target suggests a potential downside of 4.25% from the company’s previous close.

QCOM has been the topic of a number of other research reports. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. TD Cowen increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. HSBC increased their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Susquehanna upped their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.46 on Thursday, hitting $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $183.19. The business’s 50 day moving average is $167.69 and its two-hundred day moving average is $146.59. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results 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 business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Analysts forecast that QUALCOMM will post 7.64 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the 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 completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the 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 completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 completion of the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock valued at $7,429,728 in the last three months. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Large investors have recently made changes to their positions in the company. Peoples Bank OH acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC bought a new position in QUALCOMM in the 3rd quarter valued at about $629,000. Bank Hapoalim BM lifted its position in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its position in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. lifted its position in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares in the last quarter. 74.35% of the stock is currently 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.