QUALCOMM Incorporated (NASDAQ:QCOM) had its price target upped by stock analysts at BMO Capital Markets from $54.00 to $55.00 in a research note issued on Thursday, July 20th. The firm presently has a “market perform” rating on the wireless technology company’s stock. BMO Capital Markets’ target price points to a potential upside of 2.10% from the stock’s current price.
QCOM has been the topic of a number of other reports. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Friday, April 28th. Mizuho reissued a “buy” rating and issued a $68.00 target price (down from $75.00) on shares of QUALCOMM in a research note on Saturday, April 22nd. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Sanford C. Bernstein reissued a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price on the stock. in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 53.87 on Thursday. QUALCOMM has a one year low of $51.05 and a one year high of $71.62. The company has a market capitalization of $79.52 billion, a PE ratio of 20.63 and a beta of 1.29. The stock has a 50 day moving average price of $54.30 and a 200 day moving average price of $55.59.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. On average, equities research analysts predict that QUALCOMM will post $4.16 earnings per share for the current year.
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In related news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,101 shares of company stock valued at $2,955,612. Corporate insiders own 0.24% of the company’s stock.
Large investors have recently made changes to their positions in the stock. WealthTrust Axiom LLC raised its position in QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after buying an additional 15 shares in the last quarter. Ronald Blue & Co. LLC raised its position 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 in the last quarter. Liberty Capital Management Inc. raised its position in QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock worth $390,000 after buying an additional 25 shares in the last quarter. Excalibur Management Corp raised its position in QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock worth $251,000 after buying an additional 31 shares in the last quarter. Finally, Hollencrest Securities LLC raised its position 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 in the last quarter. 76.59% of the stock is owned by hedge funds and other institutional investors.
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.
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