QUALCOMM (NASDAQ:QCOM) PT Raised to $140.00

Posted by Defense World Staff on Nov 4th, 2023

QUALCOMM (NASDAQ:QCOM – Get Free Report) had its price objective raised by research analysts at Susquehanna from $130.00 to $140.00 in a report released on Thursday, Benzinga reports. The firm presently has a “positive” rating on the wireless technology company’s stock. Susquehanna’s target price would indicate a potential upside of 17.14% from the company’s current price.

Several other analysts also recently commented on QCOM. Piper Sandler increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. StockNews.com upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, October 12th. Evercore ISI dropped their price target on QUALCOMM from $140.00 to $135.00 in a research note on Thursday, October 5th. Wolfe Research assumed coverage on QUALCOMM in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $139.14.

View Our Latest Report on QUALCOMM

QUALCOMM Stock Performance

Shares of QCOM opened at $119.52 on Thursday. The business’s fifty day simple moving average is $110.80 and its two-hundred day simple moving average is $114.18. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $139.94. The company has a market cap of $131.47 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 0.97 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.35 by $0.05. QUALCOMM had a return on equity of 38.74% and a net margin of 20.19%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.51 billion. Research analysts anticipate that QUALCOMM will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 27,962 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the sale, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the sale, the insider now directly owns 5,745 shares in the company, valued at $639,246.15. The disclosure for this sale can be found here. Insiders have sold a total of 36,963 shares of company stock valued at $4,166,358 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in the company. Corient Private Wealth LLC increased its holdings in shares of QUALCOMM by 1.4% in the third quarter. Corient Private Wealth LLC now owns 682,529 shares of the wireless technology company’s stock worth $75,820,000 after purchasing an additional 9,301 shares during the last quarter. STF Management LP increased its holdings in shares of QUALCOMM by 168.6% in the third quarter. STF Management LP now owns 18,162 shares of the wireless technology company’s stock worth $2,017,000 after purchasing an additional 11,400 shares during the last quarter. SP Asset Management LLC increased its holdings in shares of QUALCOMM by 4.0% in the third quarter. SP Asset Management LLC now owns 163,829 shares of the wireless technology company’s stock worth $18,195,000 after purchasing an additional 6,306 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of QUALCOMM by 8.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,330,337 shares of the wireless technology company’s stock worth $147,747,000 after purchasing an additional 106,606 shares during the last quarter. Finally, Column Capital Advisors LLC increased its holdings in shares of QUALCOMM by 64.5% in the third quarter. Column Capital Advisors LLC now owns 816 shares of the wireless technology company’s stock worth $91,000 after purchasing an additional 320 shares during the last quarter. 71.10% of the stock is owned by institutional investors.

QUALCOMM Company Profile

(Get Free Report)

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, application processing, multimedia, and global positioning system products.