Benchmark Initiates Coverage on QUALCOMM (NASDAQ:QCOM)

Benchmark started coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $200.00 price target on the wireless technology company’s stock. Benchmark’s price target would indicate a potential upside of 22.23% from the company’s previous close.

A number of other research firms have also recently issued reports on QCOM. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Thursday, February 1st. Finally, TD Cowen boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Trading Up 1.4 %

QCOM stock opened at $163.63 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. The business has a fifty day moving average of $165.43 and a 200-day moving average of $143.97. The company has a market cap of $182.61 billion, a P/E ratio of 23.71, a PEG ratio of 2.20 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 EPS for the quarter, topping 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 business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, equities research analysts expect that QUALCOMM will post 7.64 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last three months. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Grandview Asset Management LLC increased its position in shares of QUALCOMM by 2.3% in the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. grew its position in shares of QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after buying an additional 63 shares during the last quarter. VERITY Wealth Advisors grew its position in shares of QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after buying an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after buying an additional 66 shares during the last quarter. Finally, Transform Wealth LLC grew its position in shares of QUALCOMM by 2.3% during the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after buying an additional 66 shares during the last quarter. 74.35% of the stock is owned by 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.