QUALCOMM Incorporated (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a report issued on Thursday, July 13th. They presently have a $65.00 price target on the wireless technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 24.31% from the stock’s previous close.

Several other analysts have also issued reports on QCOM. UBS AG reissued a “neutral” rating and set a $58.00 price target on shares of QUALCOMM in a report on Tuesday, May 2nd. Northland Securities lowered QUALCOMM from an “outperform” rating to a “market perform” rating and cut their price target for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.96.

Shares of QUALCOMM (NASDAQ QCOM) opened at 52.29 on Thursday. The company has a market cap of $77.18 billion, a price-to-earnings ratio of 20.03 and a beta of 1.29. QUALCOMM has a one year low of $51.05 and a one year high of $71.62. The firm’s 50-day moving average is $55.08 and its 200-day moving average is $55.95. QUALCOMM also saw unusually large options trading on Monday. Stock investors bought 21,472 put options on the stock. This is an increase of approximately 152% compared to the typical volume of 8,513 put options.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. QUALCOMM’s revenue was down 11.1% compared to the same quarter last year. Analysts expect that QUALCOMM will post $4.16 EPS for the current fiscal year.

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In related news, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald J. Rosenberg sold 10,701 shares of QUALCOMM stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $55.02, for a total value of $588,769.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,802 shares of company stock worth $3,544,381. 0.24% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its position in QUALCOMM by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 16,458,657 shares of the wireless technology company’s stock worth $1,073,104,000 after buying an additional 531,407 shares during the period. Norges Bank acquired a new position in QUALCOMM during the fourth quarter worth $922,599,000. Fisher Asset Management LLC raised its position in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after buying an additional 352,962 shares during the period. Artisan Partners Limited Partnership raised its position in QUALCOMM by 9.0% in the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock worth $541,521,000 after buying an additional 783,394 shares during the period. Finally, Veritas Asset Management LLP acquired a new position in QUALCOMM during the second quarter worth $440,415,000. 76.61% of the stock is currently owned by institutional investors and hedge funds.

About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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