QUALCOMM Incorporated (QCOM) PT Raised to $83.00 at Canaccord Genuity

QUALCOMM Incorporated (NASDAQ:QCOM) had its target price lifted by analysts at Canaccord Genuity from $76.00 to $83.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Canaccord Genuity’s price target points to a potential upside of 25.76% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research note on Thursday, August 24th. UBS AG lowered their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $65.42.

Shares of QUALCOMM (QCOM) opened at $66.00 on Monday. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The company has a market cap of $97,210.00, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. equities research analysts anticipate that QUALCOMM will post 3.07 EPS for the current year.

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In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders have sold a total of 25,837 shares of company stock valued at $1,512,049 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Ronald Blue & Co. LLC boosted its position in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the period. Hollencrest Securities LLC boosted its position in QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares during the period. North Star Investment Management Corp. boosted its position in QUALCOMM by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 42 shares during the period. FCA Corp TX boosted its position in QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after buying an additional 43 shares during the period. Finally, Farmers Trust Co. boosted its position in QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares during the period. 76.93% of the stock is owned by institutional investors.

About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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