QUALCOMM (NASDAQ:QCOM) Stock Price Expected to Rise, UBS Group Analyst Says

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its target price hoisted by equities researchers at UBS Group from $145.00 to $165.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the wireless technology company's stock. UBS Group's target price indicates a potential upside of 3.76% from the company's previous close.

A number of other equities analysts also recently issued reports on QCOM. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research note on Thursday. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $184.86.

QUALCOMM Trading Up 2.7%

QUALCOMM stock traded up $4.22 during midday trading on Monday, reaching $159.02. The stock had a trading volume of 1,181,988 shares, compared to its average volume of 8,452,644. The firm has a market cap of $174.60 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The company has a fifty day moving average of $153.95 and a 200 day moving average of $154.99. QUALCOMM has a 52-week low of $120.80 and a 52-week high of $196.24. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. On average, analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

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

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares in the last quarter. Proficio Capital Partners LLC raised its stake in QUALCOMM by 50.1% during the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock worth $645,000 after acquiring an additional 1,401 shares in the last quarter. Virtu Financial LLC acquired a new stake in QUALCOMM during the 4th quarter worth $1,322,000. Finally, Blueprint Investment Partners LLC raised its stake in QUALCOMM by 9.8% during the 4th quarter. Blueprint Investment Partners LLC now owns 1,866 shares of the wireless technology company's stock worth $287,000 after acquiring an additional 166 shares in the last quarter. 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.

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