QUALCOMM (NASDAQ:QCOM) Price Target Increased to $140.00 by Analysts at Wells Fargo & Company

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by research analysts at Wells Fargo & Company from $120.00 to $140.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the wireless technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 22.07% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald lifted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Piper Sandler lifted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, KeyCorp lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Trading Down 0.3 %

QUALCOMM stock traded down $0.46 during mid-day trading on Thursday, hitting $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The business has a 50 day moving average price of $167.69 and a 200-day moving average price of $146.59. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, analysts forecast that QUALCOMM will post 7.64 EPS for the current year.

Insider Activity at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 over the last ninety days. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the stock. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. Richardson Capital Management LLC bought a new stake in QUALCOMM in the first quarter worth $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

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.