UBS Group Raises QUALCOMM (NASDAQ:QCOM) Price Target to $175.00

QUALCOMM (NASDAQ:QCOM) had its price target increased by investment analysts at UBS Group from $165.00 to $175.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the wireless technology company’s stock. UBS Group’s price target suggests a potential downside of 2.58% from the company’s current price.

QCOM has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday. KeyCorp lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Evercore ISI started coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Stock Performance

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

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities research analysts expect that QUALCOMM will post 7.64 earnings per share for the current year.

Insider Transactions at QUALCOMM

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds 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.