QUALCOMM’s (QCOM) Neutral Rating Reiterated at Cantor Fitzgerald

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $190.00 target price on the wireless technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 6.66% from the stock’s previous close.

QCOM has been the topic of several other reports. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group upped their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six 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 a consensus rating of “Moderate Buy” and a consensus price target of $175.23.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $14.03 during trading hours on Thursday, reaching $178.14. 14,367,398 shares of the company traded hands, compared to its average volume of 8,592,915. The stock has a market cap of $198.80 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.27 and a beta of 1.33. The firm’s 50-day moving average is $166.69 and its 200-day moving average is $145.87. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $181.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Equities research analysts expect that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

Hedge funds have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. increased its position in shares of 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 purchasing an additional 122 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter valued at $27,000. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. raised its holdings in QUALCOMM by 327.1% in 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 in the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the 4th quarter worth $32,000. 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.