Barclays Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $185.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by analysts at Barclays from $155.00 to $185.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the wireless technology company’s stock. Barclays‘s target price suggests a potential upside of 3.46% from the company’s previous close.

A number of other research firms have also recently commented on QCOM. Bank of America raised their price target on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group raised their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Mizuho raised their price target on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $177.50.

QUALCOMM Stock Up 9.0 %

Shares of QUALCOMM stock traded up $14.71 during midday trading on Thursday, hitting $178.82. The company had a trading volume of 19,167,433 shares, compared to its average volume of 8,657,833. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a market capitalization of $199.56 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a 50 day moving average of $166.69 and a 200 day moving average of $145.87. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $181.69.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities analysts predict that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the company. Grandview Asset Management LLC raised its stake in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. raised its stake in QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors raised its stake in QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the last quarter. SlateStone Wealth LLC raised its stake in QUALCOMM by 1.7% during the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after purchasing an additional 65 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC raised its stake in shares of QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.