QUALCOMM (NASDAQ:QCOM) Price Target Increased to $175.00 by Analysts at UBS Group

QUALCOMM (NASDAQ:QCOM) had its price target upped by equities researchers at UBS Group from $165.00 to $175.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the wireless technology company’s stock. UBS Group’s price target would indicate a potential downside of 1.36% from the stock’s current price.

Several other research firms have also commented on QCOM. KeyCorp boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. HSBC lifted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. Wolfe Research upped their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Cantor Fitzgerald increased their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.55.

QUALCOMM Stock Up 8.1 %

Shares of NASDAQ:QCOM traded up $13.31 during midday trading on Thursday, hitting $177.42. 7,552,075 shares of the company’s stock traded hands, compared to its average volume of 8,510,028. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $181.25. The company has a market cap of $198.00 billion, a PE ratio of 25.71, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm’s fifty day moving average price is $166.69 and its two-hundred day moving average price is $145.87.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities research analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Morgan Stanley increased its holdings in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $2,507,978,000. Finally, Northern Trust Corp grew its holdings in QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.