QUALCOMM Incorporated (NASDAQ:QCOM) had its price target lifted by stock analysts at Canaccord Genuity from $76.00 to $83.00 in a research note issued on Monday. The firm presently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 26.10% from the company’s previous close.
QCOM has been the topic of a number of other research reports. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a report on Thursday, August 24th. UBS AG decreased their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Finally, Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.89.
Shares of QUALCOMM (NASDAQ:QCOM) traded up $1.25 during midday trading on Monday, hitting $65.82. The stock had a trading volume of 11,690,598 shares, compared to its average volume of 11,210,729. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24. The stock has a market cap of $96,930.00, a P/E ratio of 17.08, a PEG ratio of 1.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. research analysts expect that QUALCOMM will post 3.07 earnings per share for the current fiscal year.
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In other news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,837 shares of company stock valued at $1,512,049. 0.24% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bangor Savings Bank purchased a new position in QUALCOMM in the first quarter worth approximately $1,377,000. UBS Asset Management Americas Inc. raised its holdings in QUALCOMM by 0.7% during the first quarter. UBS Asset Management Americas Inc. now owns 4,508,344 shares of the wireless technology company’s stock worth $258,508,000 after purchasing an additional 32,884 shares in the last quarter. Staley Capital Advisers Inc. raised its holdings in QUALCOMM by 6.3% during the first quarter. Staley Capital Advisers Inc. now owns 767,666 shares of the wireless technology company’s stock worth $44,018,000 after purchasing an additional 45,693 shares in the last quarter. Bruni J V & Co. Co. raised its holdings in QUALCOMM by 28.1% during the first quarter. Bruni J V & Co. Co. now owns 382,820 shares of the wireless technology company’s stock worth $21,951,000 after purchasing an additional 83,901 shares in the last quarter. Finally, RNC Capital Management LLC increased its holdings in shares of QUALCOMM by 33.8% in the 1st quarter. RNC Capital Management LLC now owns 625,317 shares of the wireless technology company’s stock valued at $35,856,000 after acquiring an additional 158,133 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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