QUALCOMM (NASDAQ:QCOM) Given New $205.00 Price Target at Argus

QUALCOMM (NASDAQ:QCOM) had its price objective raised by stock analysts at Argus from $180.00 to $205.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the wireless technology company’s stock. Argus’ target price would suggest a potential upside of 13.54% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on QCOM. Barclays raised their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho lifted their price target on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. UBS Group upped their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. KeyCorp lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Wolfe Research upped their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Stock Up 0.2 %

QCOM opened at $180.55 on Tuesday. The business’s fifty day simple moving average is $168.62 and its 200 day simple moving average is $148.09. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $184.31. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $201.49 billion, a PE ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock worth $7,796,128 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of the stock. Grandview Asset Management LLC grew its position in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares in the last quarter. VERITY Wealth Advisors lifted its stake in shares of QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares in the last quarter. SlateStone Wealth LLC grew its holdings in shares of QUALCOMM by 1.7% during the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after buying an additional 65 shares during the last quarter. Finally, Verus Capital Partners LLC increased its position in shares of QUALCOMM by 1.4% during the first quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock valued at $774,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.