QUALCOMM (NASDAQ:QCOM) Stock Rating Upgraded by StockNews.com

QUALCOMM (NASDAQ:QCOM) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

QCOM has been the topic of several other research reports. Piper Sandler upped their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Canaccord Genuity Group upped their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Cantor Fitzgerald increased their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $160.68.

QUALCOMM Price Performance

QCOM opened at $164.11 on Tuesday. The stock’s 50-day moving average price is $166.69 and its 200 day moving average price is $145.87. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $183.15 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, sell-side analysts expect that QUALCOMM will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of 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. In the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

Hedge funds have recently modified their holdings of the business. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in 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 acquired a new position in QUALCOMM during the first quarter worth $27,000. Legacy Financial Group LLC acquired a new position in QUALCOMM during the third quarter worth $29,000. CarsonAllaria Wealth Management Ltd. raised its holdings in QUALCOMM by 327.1% during the fourth 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 last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter worth $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.

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.