QUALCOMM (NASDAQ:QCOM) Rating Increased to Strong-Buy at StockNews.com

QUALCOMM (NASDAQ:QCOM) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

QCOM has been the subject of several other reports. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 4.8 %

QUALCOMM stock opened at $165.43 on Friday. QUALCOMM has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $182.97 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm has a 50 day simple moving average of $164.46 and a 200-day simple moving average of $165.77.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts expect that QUALCOMM will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Courier Capital LLC boosted its holdings in QUALCOMM by 14.6% during the 3rd quarter. Courier Capital LLC now owns 2,908 shares of the wireless technology company’s stock worth $495,000 after acquiring an additional 370 shares during the last quarter. McAdam LLC boosted its holdings in QUALCOMM by 11.5% during the third quarter. McAdam LLC now owns 1,900 shares of the wireless technology company’s stock worth $323,000 after purchasing an additional 196 shares during the last quarter. International Assets Investment Management LLC grew its position in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. YHB Investment Advisors Inc. increased its stake in QUALCOMM by 3.7% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,365 shares of the wireless technology company’s stock valued at $402,000 after buying an additional 85 shares during the last quarter. Finally, DT Investment Partners LLC increased its stake in QUALCOMM by 4.2% in the 3rd quarter. DT Investment Partners LLC now owns 7,605 shares of the wireless technology company’s stock valued at $1,293,000 after buying an additional 307 shares during the last quarter. 74.35% of the stock is 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.