QUALCOMM (NASDAQ:QCOM) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued an in-line rating and a $177.00 target price on the wireless technology company’s stock.

A number of other equities analysts have also recently commented on QCOM. KeyCorp boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a report on Monday, April 8th. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a report on Wednesday, April 10th. Mizuho boosted their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, February 1st. Piper Sandler boosted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Finally, Barclays boosted their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $156.90.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $168.58 on Tuesday. The stock has a market capitalization of $188.14 billion, a PE ratio of 24.43, a P/E/G ratio of 2.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business has a fifty day moving average price of $164.11 and a two-hundred day moving average price of $142.05. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities analysts predict that QUALCOMM will post 7.67 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,360 shares of company stock worth $7,184,678. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the 1st quarter worth approximately $26,000. DHJJ Financial Advisors Ltd. acquired a new position in QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. raised its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the period. O Dell Group LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $28,000. Finally, Legacy Financial Group LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.