QUALCOMM Incorporated (NASDAQ:QCOM) Receives $202.64 Average Price Target from Brokerages

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) has received an average recommendation of "Hold" from the thirty research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $201.21.

QCOM has been the subject of several analyst reports. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $2.71 during midday trading on Friday, reaching $141.96. The company had a trading volume of 595,906 shares, compared to its average volume of 8,849,028. The stock has a fifty day simple moving average of $156.49 and a 200 day simple moving average of $161.38. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $157.01 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts forecast that QUALCOMM will post 9.39 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last ninety days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently modified their holdings of the stock. Eagle Strategies LLC increased its position in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC increased its position in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc increased its holdings in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after buying an additional 65 shares during the last quarter. 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.