Rosenblatt Securities Raises QUALCOMM (QCOM) Price Target to $82.00

QUALCOMM (NASDAQ:QCOM) had its price objective boosted by Rosenblatt Securities from $70.00 to $82.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have a buy rating on the wireless technology company’s stock.

Several other brokerages have also recently issued reports on QCOM. BMO Capital Markets restated a market perform rating on shares of QUALCOMM in a research report on Thursday, January 31st. Zacks Investment Research cut QUALCOMM from a buy rating to a hold rating in a research report on Tuesday, February 19th. Cowen restated an outperform rating and issued a $70.00 price target (down previously from $73.00) on shares of QUALCOMM in a research report on Thursday, January 31st. ValuEngine upgraded QUALCOMM from a sell rating to a hold rating in a research report on Tuesday, March 5th. Finally, Evercore ISI restated an in-line rating and issued a $60.00 price target (down previously from $68.00) on shares of QUALCOMM in a research report on Monday, January 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $76.32.

Shares of QCOM stock opened at $79.89 on Wednesday. The stock has a market capitalization of $96.69 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.81 and a beta of 1.22. QUALCOMM has a 52-week low of $48.56 and a 52-week high of $82.52. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm’s revenue for the quarter was down 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, equities research analysts forecast that QUALCOMM will post 3.21 EPS for the current fiscal year.

In other news, President Cristiano R. Amon sold 13,466 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the sale, the president now owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James H. Thompson sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Mathes Company Inc. boosted its stake in shares of QUALCOMM by 190.0% during the 4th quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock worth $495,000 after acquiring an additional 5,700 shares in the last quarter. Epstein & White Financial LLC boosted its stake in shares of QUALCOMM by 34.4% during the 4th quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock worth $555,000 after acquiring an additional 2,495 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of QUALCOMM by 6.1% during the 1st quarter. Bogart Wealth LLC now owns 10,342 shares of the wireless technology company’s stock worth $589,000 after acquiring an additional 591 shares in the last quarter. First American Bank boosted its stake in shares of QUALCOMM by 4.5% during the 4th quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock worth $1,552,000 after acquiring an additional 1,166 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its stake in shares of QUALCOMM by 4.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after acquiring an additional 778 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

About QUALCOMM

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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