Evercore ISI Forecasts Strong Price Appreciation for QUALCOMM (NASDAQ:QCOM) Stock

QUALCOMM (NASDAQ:QCOM) had its price target upped by stock analysts at Evercore ISI from $190.00 to $199.00 in a report released on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the wireless technology company’s stock. Evercore ISI’s target price suggests a potential upside of 12.63% from the company’s current price.

QCOM has been the subject of a number of other reports. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.88.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $3.69 during mid-day trading on Thursday, reaching $176.68. 2,339,456 shares of the stock traded hands, compared to its average volume of 8,933,935. The business has a 50-day moving average of $168.55 and a 200 day moving average of $182.14. QUALCOMM has a fifty-two week low of $119.15 and a fifty-two week high of $230.63. The stock has a market capitalization of $196.82 billion, a PE ratio of 23.66, a PEG ratio of 1.66 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, analysts predict that QUALCOMM will post 8.02 EPS for the current year.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors have recently added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc lifted its position in shares of QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal raised its position in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors raised its position in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC raised its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

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.