Cantor Fitzgerald Reaffirms "Neutral" Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports. They currently have a $150.00 price objective on the wireless technology company's stock. Cantor Fitzgerald's target price would indicate a potential upside of 9.67% from the company's previous close.

A number of other brokerages have also recently weighed in on QCOM. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $195.00.

QUALCOMM Price Performance

Shares of QCOM traded down $11.69 during trading hours on Thursday, hitting $136.77. 13,694,839 shares of the stock were exchanged, compared to its average volume of 8,921,726. QUALCOMM has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market cap of $151.27 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock's 50-day moving average price is $148.68 and its two-hundred day moving average price is $159.06.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm 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 firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. Research analysts expect that QUALCOMM will post 9.39 earnings per share for the current year.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business'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 transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,666 shares of company stock valued at $5,047,052. Company insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Several hedge funds have recently modified their holdings of QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter worth $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. Finally, CKW Financial Group acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $27,000. 74.35% of the stock is owned by institutional investors and hedge funds.

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.

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