QUALCOMM (NASDAQ:QCOM) Rating Increased to Strong-Buy at TD Cowen

QUALCOMM (NASDAQ:QCOM - Get Free Report) was upgraded by research analysts at TD Cowen to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks.com reports.

QCOM has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an "underweight" rating in a research report on Thursday, August 1st. HSBC downgraded QUALCOMM from a "buy" rating to a "hold" rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Piper Sandler reiterated an "overweight" rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Wolfe Research cut QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.67.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $2.09 during mid-day trading on Monday, reaching $168.70. The stock had a trading volume of 5,826,157 shares, compared to its average volume of 9,174,219. The firm has a 50 day moving average price of $174.52 and a two-hundred day moving average price of $182.15. The stock has a market capitalization of $188.27 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.81 and a beta of 1.28. QUALCOMM has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, analysts expect that QUALCOMM will post 8 earnings per share for the current year.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company's stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company's stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the business. Heritage Wealth Management Inc. bought a new position in shares of QUALCOMM in the 2nd quarter worth $1,539,000. Sanctuary Advisors LLC acquired a new position in QUALCOMM during the 2nd quarter valued at about $33,168,000. Creekside Partners acquired a new position in QUALCOMM during the 2nd quarter valued at about $320,000. NCP Inc. increased its position in QUALCOMM by 50.5% during the 2nd quarter. NCP Inc. now owns 301 shares of the wireless technology company's stock valued at $60,000 after buying an additional 101 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in QUALCOMM during the 2nd quarter valued at about $129,000. Hedge funds and other institutional investors 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.