QUALCOMM (NASDAQ:QCOM) Given New $165.00 Price Target at UBS Group

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price target lifted by stock analysts at UBS Group from $145.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the wireless technology company's stock. UBS Group's price target would indicate a potential upside of 4.21% from the stock's previous close.

Several other equities analysts also recently weighed in on the stock. Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Bank of America cut their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $184.86.

QUALCOMM Stock Down 1.0%

Shares of QCOM stock traded down $1.55 during trading on Monday, reaching $158.33. The company's stock had a trading volume of 2,302,467 shares, compared to its average volume of 8,346,359. 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 company has a market capitalization of $173.84 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.04 and a beta of 1.26. The stock's 50-day moving average price is $154.35 and its 200 day moving average price is $155.05. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $182.64.

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

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% during the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock worth $17,568,141,000 after purchasing an additional 638,284 shares during the period. Kingstone Capital Partners Texas LLC boosted its holdings in shares of QUALCOMM by 656,661.0% during the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock worth $9,360,274,000 after purchasing an additional 58,764,593 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,721,882,000. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.