QUALCOMM (NASDAQ:QCOM) Raised to "Strong-Buy" at StockNews.com

QUALCOMM (NASDAQ:QCOM - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Tuesday.

QCOM has been the topic of a number of other reports. HSBC raised their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, February 1st. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a "positive" rating in a research note on Wednesday, April 10th. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, January 19th. Finally, KeyCorp lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.68.

QUALCOMM Price Performance

QCOM traded down $3.35 on Tuesday, reaching $165.85. The company had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The business has a 50 day simple moving average of $166.45 and a 200 day simple moving average of $145.75. The company has a market cap of $185.09 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $177.59.

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

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Hedge funds have recently modified their holdings of the business. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of QUALCOMM by 327.1% during the 4th 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 in the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at $37,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC raised its position in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 115 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.

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