QUALCOMM (NASDAQ:QCOM) Receives New Coverage from Analysts at Evercore ISI

Analysts at Evercore ISI started coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set an “in-line” rating and a $177.00 price target on the wireless technology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.72% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. KeyCorp increased their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 2.5 %

NASDAQ QCOM opened at $164.32 on Tuesday. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $177.59. The stock has a market cap of $183.38 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.32 and a beta of 1.41. The stock’s fifty day moving average price is $164.47 and its 200-day moving average price is $142.20. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock valued at $7,184,678 in the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM in the third quarter worth about $26,000. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. O Dell Group LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $28,000. Finally, Legacy Financial Group LLC bought a new stake in QUALCOMM during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.