QUALCOMM (NASDAQ:QCOM) PT Raised to $137.00

QUALCOMM (NASDAQ:QCOM) had its price objective boosted by Canaccord Genuity from $115.00 to $137.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity’s price target suggests a potential upside of 29.72% from the company’s previous close.

A number of other equities analysts have also weighed in on QCOM. UBS Group upped their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Goldman Sachs Group lowered shares of QUALCOMM from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $77.00 to $61.00 in a research note on Friday, April 17th. Deutsche Bank increased their price objective on shares of QUALCOMM from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of QUALCOMM from $81.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Thursday. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $106.36.

Shares of QCOM traded down $1.58 during trading hours on Thursday, reaching $105.61. The stock had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. QUALCOMM has a 52 week low of $58.00 and a 52 week high of $107.75. The firm has a 50-day moving average of $90.67 and a 200 day moving average of $82.54. The company has a market cap of $120.94 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.98 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, equities analysts expect that QUALCOMM will post 3.08 earnings per share for the current year.

In other news, EVP Donald J. Rosenberg sold 11,038 shares of QUALCOMM stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.68, for a total value of $967,811.84. Following the completion of the sale, the executive vice president now directly owns 3,591 shares in the company, valued at $314,858.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven M. Mollenkopf sold 219,131 shares of QUALCOMM stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,740 shares of company stock valued at $22,024,427. 0.12% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexavest Inc. raised its position in QUALCOMM by 109.6% during the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. Harwood Advisory Group LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $32,000. RMR Wealth Builders acquired a new position in QUALCOMM during the fourth quarter valued at approximately $34,000. Sound Income Strategies LLC raised its position in QUALCOMM by 118.7% during the first quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 273 shares in the last quarter. Finally, Advisory Alpha LLC raised its position in QUALCOMM by 493.9% during the first quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 74.50% of the company’s stock.

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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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