QUALCOMM (NASDAQ:QCOM) had its price objective boosted by stock analysts at Macquarie from $55.00 to $70.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the wireless technology company’s stock. Macquarie’s price objective suggests a potential upside of 2.91% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Mizuho reissued a “buy” rating and issued a $75.00 price target (up from $65.00) on shares of QUALCOMM in a report on Wednesday. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday. Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $75.00 in a report on Tuesday. Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price target for the company in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and a consensus price target of $67.14.

Shares of QUALCOMM (QCOM) traded down $0.23 during midday trading on Wednesday, reaching $68.02. 12,560,000 shares of the company’s stock were exchanged, compared to its average volume of 8,170,000. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $100,270.00, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the company earned $1.28 EPS. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. sell-side analysts anticipate that QUALCOMM will post 3.07 EPS for the current year.

In other news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold 72,989 shares of company stock valued at $4,678,794 over the last three months. 0.24% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ronald Blue & Co. LLC increased its holdings in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares during the last quarter. Hollencrest Securities LLC increased its holdings in QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after buying an additional 40 shares during the last quarter. FCA Corp TX increased its holdings in QUALCOMM by 1.0% in the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock worth $269,000 after buying an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in QUALCOMM by 0.3% in the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after buying an additional 50 shares during the last quarter. Finally, Valueworks LLC increased its holdings in QUALCOMM by 0.3% in the second quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock worth $827,000 after buying an additional 50 shares during the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.

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QUALCOMM Company Profile

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)