QUALCOMM (NASDAQ:QCOM) Rating Reiterated by Evercore ISI

QUALCOMM (NASDAQ:QCOM)‘s stock had its “in-line” rating reaffirmed by equities researchers at Evercore ISI in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $150.00 price target on the wireless technology company’s stock, down from their prior price target of $195.00. Evercore ISI’s price objective suggests a potential upside of 12.44% from the company’s previous close.

QCOM has been the subject of several other research reports. Cascend Securities increased their price objective on QUALCOMM from $175.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Susquehanna downgraded QUALCOMM from a “positive” rating to a “neutral” rating and cut their target price for the company from $175.00 to $155.00 in a research report on Monday. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 target price on the stock. in a research report on Thursday, February 4th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $162.77.

QUALCOMM stock opened at $133.40 on Monday. The business has a fifty day moving average of $133.83 and a two-hundred day moving average of $141.72. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The firm has a market cap of $151.54 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.27 and a beta of 1.34. QUALCOMM has a twelve month low of $71.75 and a twelve month high of $167.94.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. Equities analysts expect that QUALCOMM will post 6.33 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of QCOM. Norges Bank purchased a new position in QUALCOMM in the 4th quarter valued at about $1,638,769,000. BlackRock Inc. lifted its stake in QUALCOMM by 5.4% in the 4th quarter. BlackRock Inc. now owns 79,999,443 shares of the wireless technology company’s stock valued at $12,187,113,000 after buying an additional 4,097,822 shares in the last quarter. Alliancebernstein L.P. lifted its stake in QUALCOMM by 31.2% in the 4th quarter. Alliancebernstein L.P. now owns 13,277,733 shares of the wireless technology company’s stock valued at $2,022,730,000 after buying an additional 3,158,229 shares in the last quarter. FMR LLC lifted its stake in QUALCOMM by 3.4% in the 4th quarter. FMR LLC now owns 56,956,778 shares of the wireless technology company’s stock worth $8,676,796,000 after purchasing an additional 1,855,061 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in QUALCOMM by 2,766.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,401,954 shares of the wireless technology company’s stock worth $213,574,000 after purchasing an additional 1,353,044 shares in the last quarter. 74.76% of the stock is currently owned by hedge funds and other institutional investors.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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