QUALCOMM Incorporated (NASDAQ:QCOM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have been given a consensus recommendation of “Moderate Buy” by the thirty brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $208.00.

Several equities analysts have recently weighed in on QCOM shares. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th.

QUALCOMM Trading Up 2.7 %

Shares of NASDAQ QCOM opened at $157.83 on Wednesday. QUALCOMM has a 1 year low of $134.94 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50-day moving average of $160.64 and a 200 day moving average of $171.56. The stock has a market cap of $175.35 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

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

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its holdings in QUALCOMM by 4.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 14,312 shares of the wireless technology company’s stock valued at $2,199,000 after purchasing an additional 591 shares during the last quarter. Everence Capital Management Inc. grew its stake in shares of QUALCOMM by 51.0% during the fourth quarter. Everence Capital Management Inc. now owns 37,330 shares of the wireless technology company’s stock valued at $5,735,000 after buying an additional 12,610 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $111,000. Versant Capital Management Inc lifted its stake in shares of QUALCOMM by 56.2% during the 4th quarter. Versant Capital Management Inc now owns 1,713 shares of the wireless technology company’s stock worth $263,000 after acquiring an additional 616 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC boosted its holdings in QUALCOMM by 11.2% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 13,327 shares of the wireless technology company’s stock valued at $2,266,000 after acquiring an additional 1,340 shares during the period. Institutional investors 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.