Nomura Analysts Give QUALCOMM (QCOM) a $75.00 Price Target
QUALCOMM (NASDAQ:QCOM) has been assigned a $75.00 price target by equities researchers at Nomura in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the wireless technology company’s stock. Nomura’s price objective points to a potential upside of 14.71% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price objective for the company in a research report on Tuesday, January 2nd. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, Royal Bank of Canada boosted their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and an average price target of $66.26.
QUALCOMM (NASDAQ:QCOM) opened at $65.38 on Tuesday. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $96,787.57, a PE ratio of 39.62, a P/E/G ratio of 1.85 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the firm earned $1.28 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. analysts forecast that QUALCOMM will post 3.07 earnings per share for the current fiscal year.
In other news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares in the company, valued at $2,810,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,989 shares of company stock valued at $4,678,794. Insiders own 0.24% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in QCOM. Westwood Holdings Group Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $114,000. Krilogy Financial LLC grew its position in QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC grew its position in QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after acquiring an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after acquiring an additional 842 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.
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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