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QUALCOMM (NASDAQ: QCOM) target price was published in a Thursday by investment analysts at the Royal Bank of Canada Research note increased from USD 126.00 to USD 150.00, reports The Fly. The company currently has a « Sector Perform » rating on the company’s wireless technology stock. The Royal Bank of Canada’s price target would mean a potential 2.24% gain over the current price of the stock.
A number of other research firms have also looked at QCOM. Citigroup downgraded QUALCOMM from a « buy » rating to a « neutral » rating and set a price target of $ 165.00 for the company. in a report on Thursday. Sanford C. Bernstein reiterated its buy recommendation and issued a research report on Thursday, November 5th, with a price target of USD 165.00 for shares of QUALCOMM. Oppenheimer confirmed in a research report on Thursday, November 5th, a « hold » rating for QUALCOMM shares. Raymond James raised his price target for QUALCOMM from $ 150.00 to $ 190.00 and rated the company as « Purchasing Power » in a research report on Tuesday, January 19th. Finally, Morgan Stanley lowered its price target for QUALCOMM from USD 171.00 to USD 167.00 and stated an « overweight » for the stock in a research note on Thursday. One investment analyst has given the stock a sell rating, eleven have given a hold rating, twenty have given a buy rating, and one has given the company’s stock a strong buy rating. QUALCOMM currently has an average « Buy » rating and a consensus target of $ 157.81.
QCOM was trading at $ 15.58 during Thursday’s trading hours to hit $ 146.72. The share had a trading volume of 1,668,943 shares compared to an average volume of 7,693,811 shares. The company’s 50-day simple moving average is $ 154.68 and the company’s 200-day simple moving average is $ 131.23. QUALCOMM has a 1 year low of $ 58.00 and a 1 year high of $ 167.94. The stock has a market capitalization of $ 166.64 billion, a P / E of 32.39, a price to earnings ratio of 1.27, and a beta of 1.34. The company has a quick rate of 1.84, a current rate of 2.14, and a leverage ratio of 2.51. (adsbygoogle = window.adsbygoogle || []). push ({});
QUALCOMM (NASDAQ: QCOM) last announced its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported earnings of $ 2.17 per share for the quarter, beating the consensus estimate of $ 2.10 by $ 0.07. QUALCOMM achieved a return on equity of 90.74% and a net margin of 22.09%. The company had revenue of $ 8.24 billion for the quarter, compared to analyst estimates of $ 8.26 billion. For the same quarter last year, the company had earnings per share of $ 0.80. The company’s quarterly revenue increased 62.2% year over year. As analysts, equity analysts expect QUALCOMM to post an EPS of 6.33 for the current year.
In related news, President Cristiano R. Amon sold 19,606 shares in the company in a transaction on Tuesday, November 24th. The stock was sold at an average price of $ 143.65 for a total transaction of $ 2,816,401.90. Following the transaction, the President now directly owns 67,794 shares in the company valued at approximately $ 9,738,608.10. The sale was disclosed in a document filed with the SEC, which can be accessed via this link. In addition, CAO Erin L. Polek sold 3,455 shares in the company in a transaction on Monday, November 23rd. The stock sold at an average price of $ 142.48 for a total value of $ 492,268.40. Following the transaction, the chief accounting officer now owns 2,738 shares in the company valued at $ 390,110.24. The disclosure for this sale can be found here. Insiders sold a total of 136,909 shares in the company last quarter, valued at $ 20,502,275. Company insiders own 0.12% of the company’s stock.
A number of institutional investors and hedge funds have recently changed their holdings in QCOM. Lord Abbett & CO. LLC increased its position in QUALCOMM by 307.5% in the third quarter. Lord Abbett & CO. LLC now owns 2,256,046 shares of the wireless technology company valued at $ 265,491,000 after purchasing an additional 1,702,478 shares during the period. Nuveen Asset Management LLC increased its stake in QUALCOMM by 9.2% in the third quarter. Nuveen Asset Management LLC now owns 10,409,162 shares of the wireless technology company valued at $ 1,224,950,000, after purchasing an additional 873,223 shares last quarter. Bahl & Gaynor Inc. increased its stake in QUALCOMM by 111.0% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,482,327 shares of the wireless technology company, valued at $ 225,818,000, after purchasing an additional 779,655 shares last quarter. Morgan Stanley increased its stake in QUALCOMM by 12.9% in the third quarter. Morgan Stanley now owns 6,489,410 shares of the wireless technology company valued at $ 763,673,000 after purchasing an additional 740,296 shares last quarter. Finally, Neuberger Berman Group LLC increased its stake in QUALCOMM by 123.3% in the third quarter. Neuberger Berman Group LLC now owns 1,290,186 shares in the wireless technology company valued at $ 151,768,000, after purchasing an additional 712,339 shares last quarter. 74.76% of the shares are owned by institutional investors.
QUALCOMM Incorporated develops and commercializes fundamental technologies and products used in mobile devices and other wireless products, including network devices, broadband gateway devices, consumer electronics devices and other connected devices worldwide. The company operates in three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
This instant messaging alert was generated using narrative science technology and financial data from MarketBeat to give readers the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
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