QUALCOMM (NASDAQ:QCOM) Coverage Initiated at Evercore ISI

Equities researchers at Evercore ISI began coverage on shares of QUALCOMM (NASDAQ:QCOM - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set an "in-line" rating and a $177.00 price target on the wireless technology company's stock. Evercore ISI's price objective points to a potential upside of 4.99% from the stock's current price.

QCOM has been the topic of a number of other reports. Barclays upped their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, January 16th. Mizuho upped their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, February 1st. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, January 19th. Finally, Citigroup lowered QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.90.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.26 on Tuesday, hitting $168.58. 6,386,536 shares of the company were exchanged, compared to its average volume of 8,614,523. The stock has a market capitalization of $188.14 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The company has a 50-day moving average price of $164.11 and a 200 day moving average price of $142.05. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM will post 7.67 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company'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 completion of the transaction, the chief financial officer now owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock valued at $7,184,678 over the last quarter. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Several large investors have recently bought and sold shares of the stock. OneAscent Financial Services LLC boosted its stake in QUALCOMM by 125.9% in the first quarter. OneAscent Financial Services LLC now owns 5,019 shares of the wireless technology company's stock valued at $850,000 after acquiring an additional 2,797 shares in the last quarter. OneAscent Wealth Management LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $446,000. KRS Capital Management LLC boosted its stake in shares of QUALCOMM by 1.4% during the first quarter. KRS Capital Management LLC now owns 10,917 shares of the wireless technology company's stock worth $1,848,000 after buying an additional 149 shares during the period. Cambridge Advisors Inc. boosted its stake in shares of QUALCOMM by 2.9% during the first quarter. Cambridge Advisors Inc. now owns 3,596 shares of the wireless technology company's stock worth $609,000 after buying an additional 100 shares during the period. Finally, Norwood Financial Corp boosted its stake in shares of QUALCOMM by 72.7% during the first quarter. Norwood Financial Corp now owns 475 shares of the wireless technology company's stock worth $80,000 after buying an additional 200 shares during the period. 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.