Mizuho Increases QUALCOMM (NASDAQ:QCOM) Price Target to $180.00

QUALCOMM (NASDAQ:QCOM) had its target price increased by Mizuho from $160.00 to $180.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Mizuho’s price objective would indicate a potential upside of 9.68% from the company’s previous close.

A number of other brokerages have also recently weighed in on QCOM. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. HSBC lifted their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Barclays lifted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.68.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.11 on Thursday. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $166.69 and its two-hundred day moving average is $145.87. The firm has a market capitalization of $183.15 billion, a P/E ratio of 23.78, a PEG ratio of 2.27 and a beta of 1.33. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Analysts anticipate that QUALCOMM will post 7.64 earnings per share for the current year.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last three months. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Peoples Bank OH acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM in the third quarter worth about $629,000. Bank Hapoalim BM boosted its stake in shares of QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in shares of QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares during the last quarter. 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.