QUALCOMM Incorporated (NASDAQ:QCOM) Given Average Recommendation of “Moderate Buy” by Brokerages

QUALCOMM Incorporated (NASDAQ:QCOM) has earned a consensus recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $207.11.

Several research firms have commented on QCOM. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock.

QUALCOMM Stock Up 0.4 %

QCOM opened at $160.52 on Wednesday. The business has a 50 day moving average of $160.08 and a 200-day moving average of $170.80. The stock has a market capitalization of $178.34 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM has a 1-year low of $136.03 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, sell-side analysts anticipate that QUALCOMM will post 9.09 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter worth $30,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM during the 3rd quarter worth $39,000. Institutional investors and hedge funds 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.