QUALCOMM (NASDAQ:QCOM) has been given a $85.00 price target by equities researchers at Macquarie in a research note issued on Wednesday, TipRanks reports. The firm presently has a “buy” rating on the wireless technology company’s stock. Macquarie’s price objective points to a potential upside of 6.40% from the company’s current price.
QCOM has been the subject of several other reports. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, February 13th. Barclays increased their price objective on QUALCOMM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. began coverage on QUALCOMM in a report on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price objective for the company. BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Finally, Raymond James set a $65.00 price objective on QUALCOMM and gave the company a “buy” rating in a report on Saturday, February 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and a consensus target price of $76.32.
Shares of QCOM opened at $79.89 on Wednesday. The company has a market cap of $69.21 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.22. QUALCOMM has a twelve month low of $48.56 and a twelve month high of $82.52. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38.
In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Lavaca Capital LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $25,000. Csenge Advisory Group acquired a new stake in QUALCOMM during the 3rd quarter valued at $28,000. Transamerica Financial Advisors Inc. lifted its holdings in QUALCOMM by 688.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $36,000. Finally, Pearl River Capital LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $40,000. 83.70% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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