QUALCOMM (NASDAQ:QCOM) Given a $120.00 Price Target by Evercore ISI Analysts

QUALCOMM (NASDAQ:QCOMGet Rating) has been given a $120.00 price objective by equities researchers at Evercore ISI in a research note issued to investors on Wednesday, Stock Target Advisor reports. Evercore ISI’s price target would suggest a potential downside of 4.12% from the stock’s previous close.

A number of other brokerages have also commented on QCOM. Credit Suisse Group began coverage on QUALCOMM in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $150.00 price target for the company. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Cowen dropped their price target on QUALCOMM from $185.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. HSBC began coverage on QUALCOMM in a research note on Monday, October 24th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on QUALCOMM from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Thursday, November 3rd. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.27.

QUALCOMM Stock Up 1.2 %

Shares of QUALCOMM stock opened at $125.15 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.21 and a current ratio of 1.75. QUALCOMM has a 52-week low of $101.93 and a 52-week high of $193.58. The stock has a market capitalization of $140.29 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 0.89 and a beta of 1.24. The company’s 50 day moving average price is $117.84 and its 200-day moving average price is $130.39.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 5,591 shares of QUALCOMM stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $114.99, for a total value of $642,909.09. Following the completion of the sale, the insider now directly owns 44,572 shares in the company, valued at approximately $5,125,334.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CAO Erin L. Polek sold 2,894 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 5,591 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $114.99, for a total value of $642,909.09. Following the sale, the insider now owns 44,572 shares of the company’s stock, valued at $5,125,334.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,569 shares of company stock worth $1,257,019. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 108,549,542 shares of the wireless technology company’s stock valued at $12,263,927,000 after buying an additional 1,608,117 shares in the last quarter. BlackRock Inc. lifted its position in shares of QUALCOMM by 0.6% during the 3rd quarter. BlackRock Inc. now owns 82,719,169 shares of the wireless technology company’s stock valued at $9,345,610,000 after buying an additional 492,464 shares in the last quarter. State Street Corp lifted its position in shares of QUALCOMM by 1.1% during the 3rd quarter. State Street Corp now owns 47,568,746 shares of the wireless technology company’s stock valued at $5,374,317,000 after buying an additional 524,556 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of QUALCOMM by 4.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 18,844,528 shares of the wireless technology company’s stock valued at $2,129,056,000 after buying an additional 765,392 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of QUALCOMM by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,856,118 shares of the wireless technology company’s stock valued at $1,452,484,000 after buying an additional 215,229 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

(Get Rating)

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, application processing, multimedia, and global positioning system products.

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