QUALCOMM (NASDAQ:QCOM) has been given a $60.00 target price by equities research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Wednesday, April 17th, TipRanks reports. The firm presently has a “hold” rating on the wireless technology company’s stock. Sanford C. Bernstein’s target price would indicate a potential downside of 30.10% from the stock’s current price.
Other research analysts have also issued reports about the company. JPMorgan Chase & Co. began coverage on QUALCOMM in a report on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $89.00 price objective (up from $75.00) on shares of QUALCOMM in a report on Wednesday, April 17th. Argus increased their price objective on QUALCOMM to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $83.09.
QUALCOMM stock traded up $2.06 during midday trading on Wednesday, reaching $85.84. The company’s stock had a trading volume of 15,880,945 shares, compared to its average volume of 33,557,716. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. QUALCOMM has a 52-week low of $49.10 and a 52-week high of $90.34. The stock has a market cap of $101.85 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.45.
In related news, SVP Erin L. Polek sold 6,118 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.26, for a total transaction of $546,092.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Clark T. Jr. Randt sold 2,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.58, for a total value of $179,160.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 977,131 shares of company stock worth $38,389,089. 0.11% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $25,000. Farmers National Bank acquired a new position in QUALCOMM during the 1st quarter worth $26,000. Csenge Advisory Group acquired a new position in QUALCOMM during the 3rd quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in QUALCOMM during the 1st quarter worth $29,000. Finally, Field & Main Bank acquired a new position in QUALCOMM during the 1st quarter worth $32,000. 83.44% of the stock is owned by institutional investors.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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