HSBC Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $190.00

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price target hoisted by research analysts at HSBC from $170.00 to $190.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the wireless technology company's stock. HSBC's target price points to a potential upside of 14.56% from the company's current price.

Other analysts also recently issued reports about the company. Benchmark began coverage on QUALCOMM in a research note on Tuesday, April 23rd. They issued a "buy" rating and a $200.00 target price for the company. Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a research note on Wednesday, April 10th. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. cut their price target on QUALCOMM from $173.00 to $170.00 and set an "overweight" rating for the company in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus price target of $160.68.

QUALCOMM Stock Down 2.0 %

Shares of QCOM traded down $3.35 during trading hours on Tuesday, hitting $165.85. The stock had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $166.45 and a 200-day simple moving average of $145.75. The firm has a market capitalization of $185.09 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Sell-side analysts predict that QUALCOMM will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company's stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Neil Martin sold 371 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company's stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. grew its position in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 122 shares in the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter valued at about $27,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM during the third quarter valued at about $29,000. CarsonAllaria Wealth Management Ltd. boosted its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock valued at $30,000 after buying an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at about $32,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.