QUALCOMM (NASDAQ:QCOM) Earns “Neutral” Rating from Cantor Fitzgerald

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They presently have a $160.00 price objective on the wireless technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 9.34% from the stock’s previous close.

QCOM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Barclays boosted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $209.88.

QUALCOMM Stock Up 2.0 %

Shares of QCOM traded up $3.50 during trading hours on Thursday, reaching $176.49. The stock had a trading volume of 7,063,164 shares, compared to its average volume of 8,955,804. The firm has a 50-day simple moving average of $168.55 and a 200 day simple moving average of $182.14. QUALCOMM has a 12 month low of $119.15 and a 12 month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $196.61 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.66 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts predict that QUALCOMM will post 8.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,146 shares of company stock valued at $2,709,186. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA grew its holdings in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the period. International Assets Investment Management LLC increased its position in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S purchased a new position in QUALCOMM in the third quarter worth about $229,078,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.