QUALCOMM (NASDAQ:QCOM) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued an in-line rating and a $177.00 price objective on the wireless technology company’s stock.

A number of other brokerages have also recently issued reports on QCOM. Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a research note on Thursday, February 1st. Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research note on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a research note on Thursday, February 1st. Finally, TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $156.90.

QUALCOMM Trading Down 0.7 %

NASDAQ QCOM opened at $168.58 on Tuesday. The stock’s 50-day simple moving average is $164.11 and its two-hundred day simple moving average is $142.05. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. 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 company has a market capitalization of $188.14 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.34 and a beta of 1.41.

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently made changes to their positions in the business. Rheos Capital Works Inc. raised its holdings in QUALCOMM by 36.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares during the last quarter. Peoples Bank OH purchased a new position in QUALCOMM in the 4th quarter worth approximately $219,000. HF Advisory Group LLC purchased a new position in QUALCOMM in the 3rd quarter worth approximately $629,000. Bank Hapoalim BM raised its holdings in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. Finally, DnB Asset Management AS raised its holdings in QUALCOMM by 31.1% in the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after acquiring an additional 215,522 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.