QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reiterated by Canaccord Genuity in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $102.00 price target on the wireless technology company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 29.61% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of QUALCOMM from $92.00 to $81.00 in a research note on Tuesday, March 10th. Daiwa Capital Markets raised shares of QUALCOMM from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 11th. Nomura Securities started coverage on shares of QUALCOMM in a report on Monday, March 9th. They set a “buy” rating and a $98.00 price objective for the company. Tigress Financial reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Finally, Raymond James dropped their price objective on shares of QUALCOMM from $115.00 to $110.00 and set a “strong-buy” rating for the company in a report on Monday, April 13th. Five analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $88.57.
QCOM traded up $0.70 during midday trading on Thursday, reaching $78.70. 5,471,251 shares of the company’s stock were exchanged, compared to its average volume of 10,017,896. The firm has a market capitalization of $87.74 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. QUALCOMM has a one year low of $58.00 and a one year high of $96.17. The business has a 50-day simple moving average of $75.19 and a two-hundred day simple moving average of $82.06.
In other news, CAO Erin L. Polek sold 1,646 shares of QUALCOMM stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.12% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Norges Bank bought a new stake in QUALCOMM in the 4th quarter valued at $1,044,613,000. Renaissance Technologies LLC lifted its position in QUALCOMM by 346.1% in the 4th quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock valued at $507,897,000 after acquiring an additional 4,466,107 shares in the last quarter. Janus Henderson Group PLC lifted its position in QUALCOMM by 238.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,558,447 shares of the wireless technology company’s stock valued at $402,193,000 after acquiring an additional 3,213,243 shares in the last quarter. Alliancebernstein L.P. lifted its position in QUALCOMM by 110.4% in the 4th quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock valued at $526,706,000 after acquiring an additional 3,132,675 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in QUALCOMM by 31.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,178,776 shares of the wireless technology company’s stock valued at $417,994,000 after acquiring an additional 1,467,770 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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