QUALCOMM Incorporated (NASDAQ:QCOM) had its price target hoisted by research analysts at Sanford C. Bernstein from $50.00 to $55.00 in a research report issued on Thursday, November 2nd, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the wireless technology company’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 17.50% from the company’s current price.
QCOM has been the topic of several other reports. BMO Capital Markets lifted their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.42.
Shares of QUALCOMM (NASDAQ QCOM) opened at $66.67 on Thursday. QUALCOMM has a 12 month low of $48.92 and a 12 month high of $70.24. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $97,987.75, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the firm earned $1.28 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. equities analysts expect that QUALCOMM will post 3.07 earnings per share for the current fiscal year.
In related news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,937 shares of company stock worth $1,787,969. 0.24% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. purchased a new position in QUALCOMM during the second quarter valued at $114,000. Krilogy Financial LLC raised its position in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $141,000. Jacobi Capital Management LLC raised its position in shares of QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the last quarter. Finally, Alpha Windward LLC raised its position in shares of QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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