QUALCOMM (NASDAQ:QCOM) Given Buy Rating at Benchmark

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a research report issued on Thursday, Benzinga reports. They currently have a $240.00 price target on the wireless technology company’s stock. Benchmark’s price target would indicate a potential upside of 38.74% from the stock’s current price.

Several other research firms also recently weighed in on QCOM. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.96.

QUALCOMM Stock Up 4.3 %

QUALCOMM stock opened at $172.99 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM has a 12-month low of $119.15 and a 12-month high of $230.63. The firm’s fifty day moving average is $168.55 and its 200 day moving average is $182.14. The company has a market capitalization of $192.71 billion, a PE ratio of 22.41, a PEG ratio of 1.66 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its 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. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, sell-side analysts predict that QUALCOMM will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of the business. AM Squared Ltd bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $408,000. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $2,478,000. Adero Partners LLC raised its holdings in shares of QUALCOMM by 5.0% during the 3rd quarter. Adero Partners LLC now owns 1,811 shares of the wireless technology company’s stock worth $308,000 after acquiring an additional 86 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $523,000. Finally, GoalVest Advisory LLC raised its holdings in shares of QUALCOMM by 180.9% during the 3rd quarter. GoalVest Advisory LLC now owns 323 shares of the wireless technology company’s stock worth $55,000 after acquiring an additional 208 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.