Cantor Fitzgerald Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $215.00

QUALCOMM (NASDAQ:QCOM) had its price objective increased by research analysts at Cantor Fitzgerald from $190.00 to $215.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the wireless technology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 2.98% from the stock’s current price.

A number of other research firms also recently issued reports on QCOM. JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Barclays boosted their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, HSBC boosted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.25.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $0.60 during midday trading on Tuesday, hitting $208.78. 2,949,973 shares of the company traded hands, compared to its average volume of 9,106,698. The firm’s fifty day moving average price is $203.68 and its 200-day moving average price is $174.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market cap of $233.00 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 2.46 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts forecast that QUALCOMM will post 7.85 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock worth $8,552,835. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently made changes to their positions in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $32,000. Cherry Tree Wealth Management LLC boosted its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.