QUALCOMM (NASDAQ:QCOM) Price Target Raised to $250.00

QUALCOMM (NASDAQ:QCOM) had its price target increased by investment analysts at Rosenblatt Securities from $240.00 to $250.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the wireless technology company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 38.16% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Evercore ISI initiated coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. Cantor Fitzgerald increased their price target on QUALCOMM from $190.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Robert W. Baird increased their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp increased their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.96.

QUALCOMM Price Performance

NASDAQ QCOM opened at $180.95 on Thursday. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market capitalization of $201.94 billion, a PE ratio of 24.32, a P/E/G ratio of 2.03 and a beta of 1.27. The stock has a 50-day simple moving average of $202.69 and a 200 day simple moving average of $178.02.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Research analysts anticipate that QUALCOMM will post 7.84 EPS for the current year.

Insider Activity

In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,552,835 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently bought and sold shares of QCOM. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in QUALCOMM during the first quarter worth approximately $1,171,516,000. International Assets Investment Management LLC lifted its position in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares in the last quarter. 74.35% of the stock is currently 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.