QUALCOMM Incorporated (NASDAQ:QCOM)‘s stock had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc in a report issued on Sunday, June 18th. They presently have a $67.00 target price on the wireless technology company’s stock, up from their prior target price of $61.00. Susquehanna Bancshares Inc’s target price suggests a potential upside of 18.69% from the company’s current price.
A number of other research firms have also commented on QCOM. Vetr lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price objective for the company. in a research note on Monday, May 22nd. Stifel Nicolaus upped their price objective on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Sunday, May 21st. J P Morgan Chase & Co raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $68.00 in a research note on Monday, May 22nd. Finally, Macquarie began coverage on shares of QUALCOMM in a research report on Thursday, March 30th. They issued a “neutral” rating and a $60.00 price target for the company. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $64.65.
QUALCOMM (QCOM) opened at 56.46 on Friday. The firm has a market cap of $83.42 billion, a P/E ratio of 18.81 and a beta of 1.30. The firm has a 50 day moving average of $57.09 and a 200-day moving average of $57.97. QUALCOMM has a 12 month low of $51.05 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.29. QUALCOMM had a net margin of 19.25% and a return on equity of 21.32%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that QUALCOMM will post $4.24 earnings per share for the current year.
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In related news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann M. Livermore acquired 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average price of $54.59 per share, with a total value of $491,310.00. The disclosure for this purchase can be found here. Insiders sold a total of 87,473 shares of company stock valued at $4,840,167 over the last quarter. 0.24% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $922,599,000. Baupost Group LLC MA purchased a new stake in QUALCOMM during the first quarter valued at approximately $299,085,000. Nordea Investment Management AB boosted its stake in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the last quarter. FMR LLC boosted its stake in QUALCOMM by 3.7% in the fourth quarter. FMR LLC now owns 68,251,589 shares of the wireless technology company’s stock valued at $4,450,003,000 after buying an additional 2,439,365 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in QUALCOMM by 1,097.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,586,775 shares of the wireless technology company’s stock valued at $168,860,000 after buying an additional 2,370,783 shares during the last quarter. Hedge funds and other institutional investors own 77.25% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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