QUALCOMM (NASDAQ:QCOM) Receives Buy Rating from Benchmark

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Friday,Benzinga reports. They presently have a $240.00 price objective on the wireless technology company’s stock. Benchmark’s target price suggests a potential upside of 41.74% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 3.7 %

QUALCOMM stock opened at $169.32 on Friday. The firm has a 50-day moving average of $161.70 and a 200-day moving average of $166.02. QUALCOMM has a one year low of $143.63 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $188.11 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts expect that QUALCOMM will post 9.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,981 shares of company stock valued at $4,000,870. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brookstone Capital Management raised its holdings in shares of QUALCOMM by 3.5% during the third quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock valued at $4,957,000 after purchasing an additional 991 shares during the period. CWM LLC raised its holdings in shares of QUALCOMM by 2.7% during the third quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock valued at $21,156,000 after purchasing an additional 3,264 shares during the period. Marcum Wealth LLC raised its holdings in shares of QUALCOMM by 8.6% during the third quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock valued at $430,000 after purchasing an additional 200 shares during the period. Cypress Wealth Services LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $203,000. Finally, UMB Bank n.a. increased its position in shares of QUALCOMM by 1.2% during the third quarter. UMB Bank n.a. now owns 40,990 shares of the wireless technology company’s stock worth $6,970,000 after acquiring an additional 476 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.