QUALCOMM (NASDAQ:QCOM) had its price target boosted by investment analysts at Mizuho from $65.00 to $68.00 in a research note issued to investors on Friday, The Fly reports. Mizuho’s target price indicates a potential downside of 9.21% from the stock’s current price.
A number of other equities research analysts also recently weighed in on QCOM. Morgan Stanley set a $40.00 target price on Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. set a €28.20 ($32.79) target price on AXA and gave the stock a “buy” rating in a research note on Thursday, May 2nd. DZ Bank reiterated a “buy” rating on shares of Siemens in a research report on Thursday, May 23rd. Deutsche Bank began coverage on Markel in a research report on Thursday, May 23rd. They set a “hold” rating and a $1,000.00 price objective on the stock. Finally, Cfra set a $80.00 price objective on QUALCOMM and gave the company a “buy” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and an average price target of $79.79.
Shares of NASDAQ QCOM traded up $1.19 during trading hours on Friday, hitting $74.90. The company had a trading volume of 7,075,060 shares, compared to its average volume of 11,088,582. The stock has a market capitalization of $90.40 billion, a PE ratio of 23.48, a P/E/G ratio of 1.78 and a beta of 1.63. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. QUALCOMM has a 1-year low of $49.10 and a 1-year high of $90.34. The firm’s 50 day moving average price is $71.25.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts expect that QUALCOMM will post 3.3 EPS for the current year.
In other QUALCOMM news, EVP Donald J. Rosenberg sold 7,141 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $84.56, for a total transaction of $603,842.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 5,560 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 949,832 shares of company stock valued at $37,443,538. 0.11% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of QUALCOMM by 0.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after acquiring an additional 96,527 shares during the period. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at about $736,806,000. Clearbridge Investments LLC increased its position in shares of QUALCOMM by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock valued at $534,896,000 after purchasing an additional 99,528 shares during the last quarter. FIL Ltd lifted its stake in QUALCOMM by 179.2% in the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after acquiring an additional 3,061,598 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in QUALCOMM by 48.5% during the 1st quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock worth $183,728,000 after buying an additional 1,052,071 shares in the last quarter. 76.27% of the stock is owned by hedge funds and other institutional investors.
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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