QUALCOMM (NASDAQ:QCOM) Given New $210.00 Price Target at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its price target decreased by stock analysts at Susquehanna from $230.00 to $210.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the wireless technology company’s stock. Susquehanna’s price objective suggests a potential upside of 35.12% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Up 0.7 %

Shares of QCOM opened at $155.42 on Wednesday. The company has a market capitalization of $172.67 billion, a P/E ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM has a one year low of $125.67 and a one year high of $230.63. The business’s 50 day simple moving average is $168.04 and its 200-day simple moving average is $181.75.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the company. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA raised its holdings in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after acquiring an additional 3,047,947 shares during the period. Pacer Advisors Inc. raised its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the period. International Assets Investment Management LLC raised its holdings in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares during the period. Finally, Geode Capital Management LLC raised its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. 74.35% of the stock is owned by institutional investors.

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.