QUALCOMM (NASDAQ:QCOM) PT Raised to $185.00

QUALCOMM (NASDAQ:QCOM) had its price target upped by analysts at Piper Sandler from $165.00 to $185.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the wireless technology company’s stock. Piper Sandler’s price target would indicate a potential upside of 3.46% from the stock’s current price.

A number of other research analysts have also commented on QCOM. Bank of America raised their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Rosenblatt Securities increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Morgan Stanley increased their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $177.50.

QUALCOMM Stock Up 9.0 %

Shares of QCOM stock traded up $14.71 during trading hours on Thursday, hitting $178.82. 19,167,433 shares of the company were exchanged, compared to its average volume of 8,657,833. The stock has a market capitalization of $199.56 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM has a one year low of $101.47 and a one year high of $181.69. The business’s 50-day simple moving average is $166.69 and its two-hundred day simple moving average is $145.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Sell-side analysts predict that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now 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 is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new stake in QUALCOMM in the third quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

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.