QUALCOMM (NASDAQ:QCOM) Stock Rating Upgraded by StockNews.com

QUALCOMM (NASDAQ:QCOM) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

A number of other research analysts have also weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Down 2.3 %

Shares of QUALCOMM stock opened at $153.62 on Tuesday. QUALCOMM has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50-day moving average is $164.84 and its 200 day moving average is $165.47. The firm has a market cap of $169.90 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts anticipate that QUALCOMM will post 9.39 EPS for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,045 shares of company stock worth $8,237,043 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after acquiring an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,058,000. Burney Co. boosted its position in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $240,000. Hedge funds and other 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.