Cantor Fitzgerald Reiterates Neutral Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $160.00 price objective on the wireless technology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 6.38% from the stock’s previous close.

A number of other research analysts have also issued reports on QCOM. Deutsche Bank Aktiengesellschaft boosted their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Finally, Citigroup dropped their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Price Performance

QCOM stock opened at $170.91 on Thursday. The business has a 50 day moving average price of $168.53 and a 200 day moving average price of $182.15. The stock has a market cap of $190.39 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. QUALCOMM has a fifty-two week low of $119.85 and a fifty-two week high of $230.63. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. Equities research analysts anticipate that QUALCOMM will post 8.62 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

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

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC grew its stake in shares of QUALCOMM by 10.6% in the third quarter. LPL Financial LLC now owns 1,286,536 shares of the wireless technology company’s stock valued at $218,775,000 after buying an additional 123,215 shares in the last quarter. Cypress Capital Group grew its stake in shares of QUALCOMM by 1.4% in the third quarter. Cypress Capital Group now owns 22,312 shares of the wireless technology company’s stock valued at $3,794,000 after buying an additional 313 shares in the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of QUALCOMM by 54.3% in the third quarter. Landscape Capital Management L.L.C. now owns 20,273 shares of the wireless technology company’s stock valued at $3,447,000 after buying an additional 7,133 shares in the last quarter. Intech Investment Management LLC boosted its holdings in QUALCOMM by 180.8% in the third quarter. Intech Investment Management LLC now owns 118,491 shares of the wireless technology company’s stock valued at $20,149,000 after purchasing an additional 76,296 shares during the last quarter. Finally, Aurora Investment Counsel boosted its holdings in QUALCOMM by 9.3% in the third quarter. Aurora Investment Counsel now owns 13,975 shares of the wireless technology company’s stock valued at $2,376,000 after purchasing an additional 1,194 shares during the last quarter. 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.