QUALCOMM’s (QCOM) Overweight Rating Reaffirmed at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $185.00 target price on the wireless technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 25.32% from the company’s current price.

Several other brokerages have also weighed in on QCOM. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average target price of $200.86.

QUALCOMM Stock Down 0.6 %

QCOM stock opened at $147.62 on Tuesday. The firm has a market capitalization of $163.27 billion, a PE ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM has a 12 month low of $120.80 and a 12 month high of $230.63. The company’s 50 day simple moving average is $149.56 and its 200-day simple moving average is $159.22.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts expect that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 648 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the transaction, the chief financial officer now owns 56,445 shares in the company, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,666 shares of company stock valued at $5,047,052. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Norges Bank acquired a new position in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $527,053,000. GAMMA Investing LLC lifted its position in QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.