QUALCOMM (NASDAQ:QCOM) PT Raised to $220.00 at KeyCorp

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by KeyCorp from $210.00 to $220.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have an overweight rating on the wireless technology company’s stock. KeyCorp also issued estimates for QUALCOMM’s Q1 2022 earnings at $2.79 EPS, Q2 2022 earnings at $2.25 EPS, Q3 2022 earnings at $2.09 EPS, Q4 2022 earnings at $2.74 EPS and FY2022 earnings at $9.85 EPS.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an overweight rating in a report on Thursday, November 4th. Zacks Investment Research lowered shares of QUALCOMM from a buy rating to a hold rating and set a $135.00 price target on the stock. in a report on Monday, October 4th. Citigroup upped their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the stock a neutral rating in a report on Thursday, November 18th. Susquehanna upped their target price on shares of QUALCOMM from $157.00 to $175.00 and gave the stock a neutral rating in a report on Wednesday, November 17th. Finally, Susquehanna Bancshares upped their target price on shares of QUALCOMM from $157.00 to $175.00 and gave the stock a neutral rating in a report on Wednesday, November 17th. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of Buy and a consensus price target of $183.87.

Shares of QUALCOMM stock opened at $188.69 on Tuesday. The firm has a market capitalization of $211.33 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.27 and a beta of 1.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.68 and a quick ratio of 1.41. The company’s fifty day moving average price is $180.28 and its two-hundred day moving average price is $153.56. QUALCOMM has a 52-week low of $122.17 and a 52-week high of $193.58.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 3rd. The wireless technology company reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.88 billion. QUALCOMM had a net margin of 26.94% and a return on equity of 104.16%. During the same quarter in the previous year, the firm posted $1.23 EPS. Analysts predict that QUALCOMM will post 9.58 earnings per share for the current fiscal year.

QUALCOMM declared that its board has initiated a share repurchase plan on Tuesday, October 12th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to repurchase up to 7.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,100 shares of the company’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $180.00, for a total transaction of $558,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 5,402 shares of the company’s stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $189.50, for a total transaction of $1,023,679.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,229 shares of company stock worth $8,058,506. Corporate insiders own 0.14% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC raised its position in shares of QUALCOMM by 8.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 151,820 shares of the wireless technology company’s stock valued at $21,700,000 after acquiring an additional 12,320 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of QUALCOMM by 2.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 43,264 shares of the wireless technology company’s stock valued at $5,580,000 after acquiring an additional 943 shares during the period. Royal Fund Management LLC raised its position in shares of QUALCOMM by 3.7% in the 3rd quarter. Royal Fund Management LLC now owns 36,092 shares of the wireless technology company’s stock valued at $4,655,000 after acquiring an additional 1,304 shares during the period. SFE Investment Counsel raised its position in shares of QUALCOMM by 3.0% in the 2nd quarter. SFE Investment Counsel now owns 78,987 shares of the wireless technology company’s stock valued at $11,290,000 after acquiring an additional 2,285 shares during the period. Finally, Harvey Capital Management Inc. raised its position in shares of QUALCOMM by 17.6% in the 3rd quarter. Harvey Capital Management Inc. now owns 82,675 shares of the wireless technology company’s stock valued at $10,663,000 after acquiring an additional 12,380 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

Featured Story: Stock Symbols, CUSIP and Other Stock Identifiers

The Fly logo

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.