QUALCOMM (NASDAQ:QCOM) Given New $185.00 Price Target at Mizuho

QUALCOMM (NASDAQ:QCOMGet Rating) had its target price dropped by Mizuho from $210.00 to $185.00 in a report issued on Monday, The Fly reports. Mizuho’s price target would indicate a potential upside of 35.13% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities increased their price target on shares of QUALCOMM from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 3rd. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 3rd. Barclays increased their price target on shares of QUALCOMM from $180.00 to $185.00 in a research report on Wednesday, January 12th. Citigroup increased their price target on shares of QUALCOMM from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. Finally, Zacks Investment Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a research note on Wednesday, April 6th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Buy” and an average target price of $200.36.

NASDAQ QCOM opened at $136.91 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.33 and a current ratio of 1.65. The firm has a 50-day simple moving average of $156.59 and a 200 day simple moving average of $162.44. QUALCOMM has a twelve month low of $122.17 and a twelve month high of $193.58. The stock has a market cap of $153.34 billion, a PE ratio of 15.68, a PEG ratio of 0.80 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its earnings results on Wednesday, February 2nd. The wireless technology company reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.19. QUALCOMM had a net margin of 27.71% and a return on equity of 104.90%. The business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the company earned $1.97 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Research analysts forecast that QUALCOMM will post 10.6 earnings per share for the current fiscal year.

In related news, CFO Akash J. Palkhiwala sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $179.83, for a total transaction of $557,473.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.05% of the company’s stock.

Large investors have recently modified their holdings of the stock. NewEdge Wealth LLC increased its stake in QUALCOMM by 101.9% in the 4th quarter. NewEdge Wealth LLC now owns 5,577 shares of the wireless technology company’s stock valued at $1,020,000 after buying an additional 2,815 shares during the last quarter. Haverford Trust Co increased its stake in QUALCOMM by 10.7% in the 3rd quarter. Haverford Trust Co now owns 79,413 shares of the wireless technology company’s stock valued at $10,243,000 after buying an additional 7,700 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in QUALCOMM by 7.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 15,575 shares of the wireless technology company’s stock valued at $2,848,000 after buying an additional 1,102 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in QUALCOMM by 83.0% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 8,333 shares of the wireless technology company’s stock valued at $1,524,000 after buying an additional 3,780 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in QUALCOMM by 2.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 43,264 shares of the wireless technology company’s stock valued at $5,580,000 after buying an additional 943 shares during the last quarter. Institutional investors and hedge funds own 72.78% of the company’s stock.

QUALCOMM Company Profile (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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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