QUALCOMM (NASDAQ:QCOM) had its price objective increased by equities research analysts at UBS Group from $73.00 to $87.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the wireless technology company’s stock. UBS Group’s target price would suggest a potential downside of 5.59% from the company’s previous close.

Several other equities research analysts have also recently weighed in on QCOM. DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Canaccord Genuity increased their target price on QUALCOMM from $87.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley set a $89.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $95.00 target price on shares of QUALCOMM in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus price target of $84.43.

NASDAQ:QCOM traded up $2.17 on Thursday, hitting $92.15. 715,226 shares of the stock were exchanged, compared to its average volume of 6,227,865. The stock has a market capitalization of $103.89 billion, a price-to-earnings ratio of 32.45, a P/E/G ratio of 2.03 and a beta of 1.59. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $92.50. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The company’s 50-day moving average price is $78.64 and its 200 day moving average price is $76.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. As a group, equities research analysts predict that QUALCOMM will post 3.29 earnings per share for the current year.

In other QUALCOMM news, President Cristiano R. Amon sold 8,611 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.03, for a total transaction of $689,138.33. Following the sale, the president now directly owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark D. Mclaughlin purchased 2,705 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the acquisition, the director now owns 5,220 shares of the company’s stock, valued at $385,444.80. The disclosure for this purchase can be found here. Insiders have sold 19,118 shares of company stock worth $1,477,392 over the last quarter. 0.11% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in QUALCOMM by 2.5% during the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after acquiring an additional 233 shares during the last quarter. Cincinnati Financial Corp lifted its position in shares of QUALCOMM by 4.9% in the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock worth $72,837,000 after buying an additional 45,000 shares during the last quarter. Jennison Associates LLC lifted its position in shares of QUALCOMM by 996.4% in the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock worth $1,162,922,000 after buying an additional 13,893,238 shares during the last quarter. FLC Capital Advisors lifted its position in shares of QUALCOMM by 36.1% in the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock worth $578,000 after buying an additional 2,000 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC bought a new position in shares of QUALCOMM in the 2nd quarter worth about $263,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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