Royal Bank Of Canada Raises QUALCOMM (NASDAQ:QCOM) Price Target to $77.00

QUALCOMM (NASDAQ:QCOM) had its price target boosted by equities research analysts at Royal Bank Of Canada from $70.00 to $77.00 in a report released on Tuesday, November 14th, Marketbeat.com reports. The firm presently has an “outperform” rating on the wireless technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 17.58% from the stock’s previous close.

Several other research analysts have also commented on the company. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target on the stock in a research report on Monday, November 13th. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Canaccord Genuity boosted their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Raymond James Financial raised QUALCOMM from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Wednesday, November 8th. Finally, UBS raised QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $66.02.

QUALCOMM (QCOM) traded down $0.85 during mid-day trading on Tuesday, reaching $65.49. The company had a trading volume of 15,849,652 shares, compared to its average volume of 20,080,284. The stock has a market capitalization of $96,543.06, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. research analysts predict that QUALCOMM will post 3.07 EPS for the current fiscal year.

In other news, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold 29,427 shares of company stock worth $1,827,995 over the last 90 days. Company insiders own 0.17% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its stake in QUALCOMM by 2.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock valued at $1,330,946,000 after purchasing an additional 498,324 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in QUALCOMM in the third quarter valued at $2,740,000. Public Employees Retirement System of Ohio increased its stake in QUALCOMM by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,017,216 shares of the wireless technology company’s stock valued at $52,732,000 after purchasing an additional 3,839 shares during the last quarter. GSA Capital Partners LLP acquired a new position in QUALCOMM in the third quarter valued at $536,000. Finally, Coastline Trust Co increased its stake in QUALCOMM by 42.9% in the third quarter. Coastline Trust Co now owns 21,210 shares of the wireless technology company’s stock valued at $1,100,000 after purchasing an additional 6,370 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was first reported by BBNS and is the property of of BBNS. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://baseballnewssource.com/markets/royal-bank-of-canada-increases-qualcomm-incorporated-qcom-price-target-to-77-00/1782991.html.

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.