QUALCOMM (NASDAQ:QCOM) Stock Rating Upgraded by TD Cowen

QUALCOMM (NASDAQ:QCOM) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Tigress Financial raised their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Robert W. Baird boosted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Stock Down 0.7 %

Shares of QCOM opened at $166.61 on Monday. The firm has a market cap of $185.94 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $175.29 and its 200 day simple moving average is $182.11.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, analysts forecast that QUALCOMM will post 8 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of the company. Heritage Wealth Management Inc. purchased a new position in QUALCOMM in the second quarter worth about $1,539,000. Sanctuary Advisors LLC purchased a new position in QUALCOMM in the 2nd quarter worth approximately $33,168,000. Creekside Partners bought a new position in QUALCOMM in the 2nd quarter valued at approximately $320,000. NCP Inc. boosted its stake in QUALCOMM by 50.5% during the 2nd quarter. NCP Inc. now owns 301 shares of the wireless technology company’s stock valued at $60,000 after purchasing an additional 101 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of QUALCOMM in the second quarter worth $129,000. Institutional investors own 74.35% of the company’s stock.

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.