QUALCOMM (NASDAQ:QCOM) Receives “Buy” Rating from Rosenblatt Securities

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $250.00 price objective on the wireless technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 48.84% from the company’s previous close.

Several other research firms have also weighed in on QCOM. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Wells Fargo & Company increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $167.96 on Thursday. The firm has a market cap of $186.60 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.87 and a beta of 1.25. The company has a 50 day moving average of $161.96 and a 200-day moving average of $166.04. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM has a 1-year low of $146.29 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities analysts forecast that QUALCOMM will post 9.16 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the stock. Brookstone Capital Management lifted its position in QUALCOMM by 3.5% during the 3rd quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock worth $4,957,000 after buying an additional 991 shares in the last quarter. CWM LLC lifted its position in QUALCOMM by 2.7% during the 3rd quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock worth $21,156,000 after buying an additional 3,264 shares in the last quarter. Marcum Wealth LLC lifted its position in QUALCOMM by 8.6% during the 3rd quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock worth $430,000 after buying an additional 200 shares in the last quarter. Wedmont Private Capital lifted its position in QUALCOMM by 7.2% during the 3rd quarter. Wedmont Private Capital now owns 10,946 shares of the wireless technology company’s stock worth $1,827,000 after buying an additional 738 shares in the last quarter. Finally, Patten Group Inc. lifted its position in QUALCOMM by 3.1% during the 3rd quarter. Patten Group Inc. now owns 14,172 shares of the wireless technology company’s stock worth $2,410,000 after buying an additional 424 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

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.