QUALCOMM (NASDAQ:QCOM) had its price target lifted by equities research analysts at Canaccord Genuity from $83.00 to $86.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 25.53% from the company’s previous close.
Several other research analysts also recently weighed in on QCOM. UBS Group dropped their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Wells Fargo & Co downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $70.00 in a research report on Wednesday, November 8th. Finally, Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.14.
Shares of QUALCOMM (NASDAQ:QCOM) traded up $0.26 on Wednesday, hitting $68.51. 2,962,860 shares of the stock traded hands, compared to its average volume of 7,584,270. The firm has a market cap of $100,980.00, a PE ratio of 41.52, a P/E/G ratio of 1.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM has a 12 month low of $48.92 and a 12 month high of $69.28.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. equities research analysts forecast that QUALCOMM will post 3.07 earnings per share for the current fiscal year.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold 72,989 shares of company stock worth $4,678,794 over the last ninety days. 0.24% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. United Asset Strategies Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $5,249,000. Conning Inc. lifted its stake in QUALCOMM by 16.4% in the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after acquiring an additional 101,483 shares during the last quarter. Wrapmanager Inc. acquired a new stake in QUALCOMM in the third quarter valued at approximately $369,000. Stephens Inc. AR lifted its stake in QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after acquiring an additional 11,232 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in QUALCOMM by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after acquiring an additional 160,226 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
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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.