QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reiterated by Bank of America in a research report issued on Wednesday, MarketBeat reports. They presently have a $71.00 price objective on the wireless technology company’s stock, up from their prior price objective of $60.00. Bank of America‘s price target suggests a potential downside of 11.13% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Barclays reaffirmed a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho decreased their target price on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 31st. UBS Group reaffirmed a “neutral” rating and issued a $55.00 target price (down previously from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Finally, ValuEngine downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $76.32.

Shares of QCOM stock opened at $79.89 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. QUALCOMM has a 12-month low of $48.56 and a 12-month high of $82.52. The firm has a market cap of $69.21 billion, a PE ratio of 25.04, a P/E/G ratio of 1.81 and a beta of 1.22.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue was down 21.3% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM will post 3.21 EPS for the current fiscal year.

In other news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Cristiano R. Amon sold 13,466 shares of QUALCOMM stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the transaction, the president now directly owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in QCOM. Oregon Public Employees Retirement Fund grew its position in shares of QUALCOMM by 9,505.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after acquiring an additional 33,262,770 shares during the period. Bank of New York Mellon Corp grew its position in shares of QUALCOMM by 1,897,041.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock valued at $1,500,428,000 after acquiring an additional 20,829,517 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter valued at about $736,806,000. Morgan Stanley grew its position in shares of QUALCOMM by 163.2% in the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after acquiring an additional 11,713,988 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of QUALCOMM by 28.8% in the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after acquiring an additional 2,058,096 shares during the period. 83.70% of the stock is owned by institutional investors.

About QUALCOMM

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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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