Mizuho Raises QUALCOMM (NASDAQ:QCOM) Price Target to $180.00

QUALCOMM (NASDAQ:QCOM) had its price objective hoisted by Mizuho from $160.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the wireless technology company’s stock. Mizuho’s price target would indicate a potential upside of 0.20% from the stock’s current price.

QCOM has been the subject of several other reports. Bank of America boosted their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Thursday, February 1st. Finally, Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Stock Down 0.3 %

QCOM traded down $0.46 during midday trading on Thursday, hitting $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $183.19. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33. The stock’s 50 day moving average price is $167.69 and its 200 day moving average price is $146.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, research analysts anticipate that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,260 shares of company stock valued at $7,429,728. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. boosted its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter valued at $27,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $32,000. 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.