QUALCOMM (NASDAQ:QCOM) PT Raised to $172.00 at Morgan Stanley

QUALCOMM (NASDAQ:QCOM) had its target price raised by equities research analysts at Morgan Stanley from $158.00 to $172.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the wireless technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 4.81% from the company’s current price.

Several other equities research analysts also recently commented on the company. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. 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 note on Monday, April 8th. Mizuho lifted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.68.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $164.11 on Thursday. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $183.15 billion, a PE ratio of 23.78, a P/E/G ratio of 2.27 and a beta of 1.33. The company’s fifty day simple moving average is $166.69 and its 200-day simple moving average is $145.87. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts anticipate that QUALCOMM will post 7.64 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its stake 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 worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 8.1% in 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 buying an additional 1,909,025 shares during the last quarter. Morgan Stanley increased its holdings in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $2,507,978,000. Finally, Northern Trust Corp boosted its stake in shares of QUALCOMM by 3.5% during the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after acquiring an additional 415,398 shares in the last quarter. 74.35% of the stock is owned by 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.