QUALCOMM (NASDAQ:QCOM) Raised to Strong-Buy at StockNews.com

QUALCOMM (NASDAQ:QCOMGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other research firms also recently commented on QCOM. Robert W. Baird boosted their target price on QUALCOMM from $200.00 to $250.00 in a research report on Friday, February 4th. Barclays reduced their price objective on QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Tigress Financial upped their target price on QUALCOMM from $195.00 to $238.00 in a research note on Thursday. Wells Fargo & Company cut their target price on QUALCOMM from $185.00 to $150.00 in a research note on Thursday, April 28th. Finally, Canaccord Genuity Group increased their price objective on QUALCOMM from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 3rd. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $194.77.

NASDAQ:QCOM opened at $140.58 on Friday. The stock has a 50-day simple moving average of $147.61 and a two-hundred day simple moving average of $163.26. QUALCOMM has a 52-week low of $122.17 and a 52-week high of $193.58. The firm has a market capitalization of $157.45 billion, a PE ratio of 14.39, a P/E/G ratio of 0.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.61.

QUALCOMM (NASDAQ:QCOMGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.68 by $0.53. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same period in the prior year, the business earned $1.59 EPS. Equities analysts forecast that QUALCOMM will post 11.12 earnings per share for the current fiscal year.

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

A number of institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. increased its holdings in QUALCOMM by 0.9% in the 4th quarter. Centaurus Financial Inc. now owns 6,566 shares of the wireless technology company’s stock valued at $1,201,000 after purchasing an additional 57 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of QUALCOMM by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 21,620 shares of the wireless technology company’s stock worth $3,953,000 after acquiring an additional 58 shares in the last quarter. Bank of Marin grew its stake in shares of QUALCOMM by 1.6% in the third quarter. Bank of Marin now owns 3,760 shares of the wireless technology company’s stock worth $485,000 after acquiring an additional 60 shares in the last quarter. OLD Second National Bank of Aurora grew its stake in shares of QUALCOMM by 0.3% during the third quarter. OLD Second National Bank of Aurora now owns 21,442 shares of the wireless technology company’s stock worth $2,766,000 after purchasing an additional 60 shares in the last quarter. Finally, WealthPLAN Partners LLC grew its stake in shares of QUALCOMM by 2.8% during the third quarter. WealthPLAN Partners LLC now owns 2,212 shares of the wireless technology company’s stock worth $406,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 73.61% 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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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