Rosenblatt Securities Reaffirms “Buy” Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $145.00 price objective on the wireless technology company’s stock. Rosenblatt Securities’ price target points to a potential upside of 28.73% from the stock’s previous close.

Several other research analysts have also recently weighed in on QCOM. Wells Fargo & Company lifted their price target on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday. StockNews.com began coverage on shares of QUALCOMM in a report on Thursday, August 17th. They set a “buy” rating on the stock. Mizuho reissued a “buy” rating and set a $140.00 target price on shares of QUALCOMM in a research note on Wednesday, August 23rd. Morgan Stanley lifted their price target on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Finally, Piper Sandler upped their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $141.96.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $112.64 on Thursday. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $139.94. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $125.71 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. The company’s 50 day moving average is $117.29 and its 200 day moving average is $117.11.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. On average, sell-side analysts forecast that QUALCOMM will post 6.41 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the transaction, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the transaction, the insider now owns 6,745 shares of the company’s stock, valued at $770,009.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the sale, the chief technology officer now directly owns 241,369 shares in the company, valued at $27,330,211.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,962 shares of company stock worth $3,391,567. Insiders own 0.07% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of QUALCOMM by 97,298.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 654,605,268 shares of the wireless technology company’s stock valued at $77,924,211,000 after buying an additional 653,933,180 shares in the last quarter. BlackRock Inc. increased its stake in QUALCOMM by 1.4% during the second quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock worth $10,128,928,000 after purchasing an additional 1,191,089 shares during the period. State Street Corp lifted its position in shares of QUALCOMM by 1.1% during the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock worth $5,837,985,000 after purchasing an additional 549,861 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares during the period. Finally, Morgan Stanley grew its holdings in shares of QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Institutional investors and hedge funds own 71.10% 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, application processing, multimedia, and global positioning system products.