QUALCOMM (NASDAQ:QCOM) had its price target hoisted by investment analysts at Mizuho from $65.00 to $68.00 in a report issued on Friday, The Fly reports. Mizuho’s price target indicates a potential downside of 9.08% from the company’s previous close.

Several other research firms have also commented on QCOM. Edward Jones lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price objective on the stock. in a research note on Thursday, May 23rd. Stifel Nicolaus boosted their price objective on shares of Wayfair from $132.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein set a $60.00 price objective on shares of QUALCOMM and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Argus boosted their price objective on shares of QUALCOMM to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Bank of America set a $30.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Buy” and a consensus price target of $79.79.

NASDAQ:QCOM traded up $1.09 during trading hours on Friday, reaching $74.80. The company’s stock had a trading volume of 6,686,484 shares, compared to its average volume of 11,088,582. The firm’s 50-day moving average price is $71.25. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $90.34. The company has a market capitalization of $90.40 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.63. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. Research analysts expect that QUALCOMM will post 3.3 EPS for the current year.

In related news, EVP Alexander H. Rogers sold 20,862 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $88.43, for a total transaction of $1,844,826.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the transaction, the insider now owns 848,877 shares of the company’s stock, valued at approximately $29,031,593.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 949,832 shares of company stock valued at $37,443,538. 0.11% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in QUALCOMM by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after purchasing an additional 96,527 shares during the last quarter. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at $736,806,000. Clearbridge Investments LLC lifted its position in QUALCOMM by 1.1% during the first quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock valued at $534,896,000 after purchasing an additional 99,528 shares during the last quarter. FIL Ltd lifted its position in QUALCOMM by 179.2% during the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after purchasing an additional 3,061,598 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in QUALCOMM by 48.5% during the first quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock valued at $183,728,000 after purchasing an additional 1,052,071 shares during the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.

QUALCOMM Company Profile

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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The Fly

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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