QUALCOMM (NASDAQ:QCOM) Stock Rating Reaffirmed by Cowen

QUALCOMM (NASDAQ:QCOM)‘s stock had its “outperform” rating restated by stock analysts at Cowen in a note issued to investors on Thursday, The Fly reports. They presently have a $100.00 price target on the wireless technology company’s stock, up from their previous price target of $80.00. Cowen’s price target suggests a potential upside of 6.35% from the company’s previous close.

Other research analysts have also issued reports about the stock. Barclays lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. DZ Bank reissued a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. Mizuho boosted their target price on shares of QUALCOMM from $68.00 to $80.00 and gave the company a “positive” rating in a research note on Thursday. Canaccord Genuity set a $87.00 target price on shares of QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America reduced their target price on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and an average price target of $85.18.

Shares of QCOM traded up $4.05 during midday trading on Thursday, hitting $94.03. The company had a trading volume of 16,371,200 shares, compared to its average volume of 14,163,117. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The company’s 50 day moving average price is $78.92 and its 200 day moving average price is $76.48. The stock has a market cap of $103.89 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.03 and a beta of 1.59. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $94.11.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Equities analysts anticipate that QUALCOMM will post 3.29 EPS for the current fiscal year.

In related news, EVP Michelle M. Sterling sold 10,398 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Cristiano R. Amon sold 8,611 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.03, for a total transaction of $689,138.33. Following the sale, the president now directly owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,118 shares of company stock valued at $1,477,392. Company insiders own 0.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Ibex Wealth Advisors bought a new stake in QUALCOMM in the second quarter worth approximately $28,000. Krane Funds Advisors LLC bought a new stake in QUALCOMM in the second quarter worth approximately $28,000. Hexavest Inc. bought a new stake in QUALCOMM in the second quarter worth approximately $33,000. Lenox Wealth Advisors LLC bought a new stake in QUALCOMM in the second quarter worth approximately $34,000. Finally, Mechanics Bank Trust Department bought a new stake in QUALCOMM in the third quarter worth approximately $34,000. 78.30% of the stock is owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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