QUALCOMM (NASDAQ:QCOM) Rating Increased to Buy at Wall Street Zen

QUALCOMM (NASDAQ:QCOM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

QCOM has been the topic of a number of other research reports. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $184.86.

QUALCOMM Stock Down 0.3%

QUALCOMM stock opened at $158.40 on Friday. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $182.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market cap of $173.92 billion, a PE ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26. The stock's fifty day moving average is $154.60 and its two-hundred day moving average is $155.03.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that QUALCOMM will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Several large investors have recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in shares of 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 purchasing an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 93 shares during the period. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter valued at approximately $27,000. Finally, Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.