QUALCOMM (NASDAQ:QCOM) PT Raised to $205.00

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

Several other equities research analysts also recently issued reports on the stock. Citigroup raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. HSBC lifted their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. 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 note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $180.55 on Tuesday. The stock has a market capitalization of $201.49 billion, a PE ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $184.31. The firm has a fifty day simple moving average of $168.62 and a 200 day simple moving average of $148.09. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on 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 transaction, 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 SEC, which can be accessed through the SEC website. In other 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 value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold a total of 46,316 shares of company stock valued at $7,796,128 over the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Grandview Asset Management LLC boosted its position in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after acquiring an additional 62 shares during the last quarter. Tealwood Asset Management Inc. boosted 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 purchasing an additional 63 shares in the last quarter. VERITY Wealth Advisors boosted 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 purchasing an additional 64 shares in the last quarter. SlateStone Wealth LLC grew its stake in QUALCOMM by 1.7% during the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after purchasing an additional 65 shares during the period. Finally, Verus Capital Partners LLC increased its holdings in QUALCOMM by 1.4% in the first quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock worth $774,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.