QUALCOMM Incorporated (NASDAQ:QCOM) had its price objective upped by Royal Bank Of Canada from $70.00 to $77.00 in a note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the wireless technology company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 15.81% from the stock’s previous close.
Other research analysts have also issued reports about the company. Canaccord Genuity increased their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective on the stock in a research report on Monday. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research report on Thursday, August 24th. Finally, ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $65.42.
Shares of QUALCOMM (QCOM) opened at $66.49 on Tuesday. The company has a market capitalization of $95,186.84, a P/E ratio of 17.08, a P/E/G ratio of 1.81 and a beta of 1.26. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. analysts anticipate that QUALCOMM will post 3.07 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2017/11/14/qualcomm-incorporated-qcom-price-target-increased-to-77-00-by-analysts-at-royal-bank-of-canada.html.
In other news, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 25,837 shares of company stock valued at $1,512,049 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of QCOM. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM during the second quarter worth approximately $114,000. Krilogy Financial LLC boosted its holdings in shares of QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM during the second quarter worth approximately $141,000. Jacobi Capital Management LLC boosted its holdings in shares of QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares during the period. Finally, Alpha Windward LLC boosted its holdings in shares of QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares during the period. Institutional investors own 76.93% 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.
Receive News & Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.