QUALCOMM (NASDAQ:QCOM) Receives “Buy” Rating from Benchmark

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reissued by Benchmark in a research note issued on Thursday,Benzinga reports. They presently have a $240.00 price target on the wireless technology company’s stock. Benchmark’s target price would indicate a potential upside of 40.42% from the company’s previous close.

QCOM has been the subject of several other research reports. Robert W. Baird upped their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Stock Down 1.2 %

Shares of QCOM opened at $170.91 on Thursday. The firm has a market cap of $190.39 billion, a P/E ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. QUALCOMM has a 12 month low of $119.85 and a 12 month high of $230.63. The stock’s 50 day moving average is $168.53 and its two-hundred day moving average is $182.15. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 39.70%. Analysts predict that QUALCOMM will post 8.62 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last three months. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leelyn Smith LLC acquired a new stake in QUALCOMM in the 1st quarter valued at about $208,000. Envestnet Portfolio Solutions Inc. grew its holdings in QUALCOMM by 3.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock worth $10,208,000 after acquiring an additional 2,018 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of QUALCOMM by 3.2% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,405 shares of the wireless technology company’s stock valued at $2,100,000 after purchasing an additional 384 shares during the last quarter. PFG Advisors increased its position in shares of QUALCOMM by 6.9% in the 1st quarter. PFG Advisors now owns 3,453 shares of the wireless technology company’s stock valued at $585,000 after purchasing an additional 223 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its holdings in shares of QUALCOMM by 289.9% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 92,602 shares of the wireless technology company’s stock valued at $15,678,000 after purchasing an additional 68,850 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.