QUALCOMM (NASDAQ:QCOM) Price Target Raised to $225.00

QUALCOMM (NASDAQ:QCOM) had its price objective increased by KeyCorp from $205.00 to $225.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the wireless technology company’s stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley increased their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued a neutral rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Bank of America increased their price target on QUALCOMM from $180.00 to $245.00 and gave the company a buy rating in a research report on Friday, May 31st. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an in-line rating and a $177.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of Moderate Buy and a consensus target price of $192.96.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $199.85 on Tuesday. The business’s fifty day simple moving average is $202.70 and its 200-day simple moving average is $173.15. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $223.03 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.54 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities analysts forecast that QUALCOMM will post 7.85 earnings per share for the current year.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after buying an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 purchasing an additional 1,909,025 shares during the last quarter. Norges Bank acquired a new position in QUALCOMM during the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the first quarter worth $1,171,516,000. Finally, Putnam Investments LLC raised its holdings in QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares during the last quarter. 74.35% of the stock is 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.