QUALCOMM (NASDAQ:QCOM) had its target price decreased by stock analysts at Bank of America from $105.00 to $100.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the wireless technology company’s stock. Bank of America‘s price target would suggest a potential upside of 40.55% from the company’s current price.
A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of QUALCOMM in a research report on Monday, July 22nd. Mizuho lifted their target price on shares of QUALCOMM from $65.00 to $68.00 in a research report on Friday, July 12th. Evercore ISI raised shares of QUALCOMM from an “in-line” rating to an “outperform” rating in a research report on Wednesday, April 17th. Edward Jones downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 target price for the company. in a research report on Thursday, May 23rd. Finally, Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $90.00 to $75.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $79.93.
Shares of QCOM traded down $0.05 on Thursday, hitting $71.15. 12,648,805 shares of the stock traded hands, compared to its average volume of 10,592,839. The stock has a market cap of $88.94 billion, a P/E ratio of 22.30, a PEG ratio of 1.58 and a beta of 1.62. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $74.44. QUALCOMM has a one year low of $49.10 and a one year high of $90.34.
In other news, EVP Donald J. Rosenberg sold 7,141 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $84.56, for a total transaction of $603,842.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,931 shares of company stock valued at $5,334,769. Insiders own 0.11% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Comerica Securities Inc. grew its position in QUALCOMM by 1.3% in the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock valued at $1,615,000 after acquiring an additional 370 shares during the period. American Century Companies Inc. grew its position in QUALCOMM by 24.7% in the fourth quarter. American Century Companies Inc. now owns 2,090,201 shares of the wireless technology company’s stock valued at $118,953,000 after acquiring an additional 413,531 shares during the period. Valueworks LLC grew its position in QUALCOMM by 7.3% in the fourth quarter. Valueworks LLC now owns 143,416 shares of the wireless technology company’s stock valued at $8,162,000 after acquiring an additional 9,741 shares during the period. Jackson Hole Capital Partners LLC acquired a new position in QUALCOMM in the fourth quarter worth $720,000. Finally, Pinnacle Bank acquired a new position in QUALCOMM in the fourth quarter worth $293,000. 76.16% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Company Profile
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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