QUALCOMM (NASDAQ:QCOM) Rating Reiterated by Benchmark

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They currently have a $200.00 target price on the wireless technology company’s stock. Benchmark’s price objective points to a potential upside of 11.33% from the company’s current price.

A number of other research firms also recently issued reports on QCOM. Canaccord Genuity Group upped their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp upped their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Wolfe Research upped their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Price Performance

Shares of QCOM traded down $0.46 during trading hours on Friday, hitting $179.64. The stock had a trading volume of 10,041,403 shares, compared to its average volume of 8,755,839. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $183.19. The company’s fifty day moving average is $167.20 and its two-hundred day moving average is $146.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The stock has a market capitalization of $200.48 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.25 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 38.24%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, analysts anticipate that QUALCOMM will post 7.64 EPS for the current year.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in QUALCOMM during the 3rd quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its holdings in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the 4th quarter valued at approximately $32,000. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.