QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.3% Following Analyst Upgrade

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.3% during mid-day trading on Monday after Cantor Fitzgerald raised their price target on the stock from $150.00 to $190.00. Cantor Fitzgerald currently has a neutral rating on the stock. QUALCOMM traded as high as $174.39 and last traded at $173.73. 1,310,443 shares traded hands during trading, a decline of 85% from the average session volume of 8,754,135 shares. The stock had previously closed at $171.53.

QCOM has been the subject of a number of other research reports. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Barclays raised their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.81.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 45,360 shares of company stock worth $7,323,678 in the last quarter. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several large investors have recently made changes to their positions in QCOM. O Dell Group LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. increased its position 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 acquiring an additional 157 shares during the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of QUALCOMM during the 1st quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at $32,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

The company’s 50 day moving average is $161.38 and its 200 day moving average is $139.90. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $195.94 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

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.