QUALCOMM (NASDAQ:QCOM) Receives “Neutral” Rating from Cantor Fitzgerald

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating restated by analysts at Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They presently have a $150.00 price target on the wireless technology company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 7.29% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and a consensus price target of $192.58.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $139.81 on Thursday. QUALCOMM has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $154.63 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a fifty day simple moving average of $147.74 and a 200-day simple moving average of $158.53.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. On average, sell-side analysts anticipate that QUALCOMM will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, 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. Insiders sold a total of 32,266 shares of company stock valued at $5,267,436 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $27,000. Finally, WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth about $27,000. Institutional investors 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.