QUALCOMM (NASDAQ:QCOM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

QUALCOMM (NASDAQ:QCOM - Free Report) had its price target hoisted by JPMorgan Chase & Co. from $185.00 to $190.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the wireless technology company's stock.

A number of other research firms also recently weighed in on QCOM. Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $186.00.

QUALCOMM Stock Up 0.6%

Shares of QCOM stock traded up $0.98 during trading hours on Thursday, hitting $153.59. 872,865 shares of the company were exchanged, compared to its average volume of 8,463,500. The business has a 50 day moving average of $153.76 and a two-hundred day moving average of $154.96. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM has a 52 week low of $120.80 and a 52 week high of $196.24. The company has a market capitalization of $168.65 billion, a PE ratio of 15.65, a PEG ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its holdings in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after buying an additional 93 shares during the last quarter. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Finally, Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Institutional investors and hedge funds 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.