Rosenblatt Securities Reiterates “Buy” Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $250.00 price target on the wireless technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 48.84% from the company’s current price.

Several other analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

NASDAQ QCOM opened at $167.96 on Thursday. The stock has a market capitalization of $186.60 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.87 and a beta of 1.25. QUALCOMM has a 1 year low of $146.29 and a 1 year high of $230.63. The business’s fifty day moving average is $161.96 and its two-hundred day moving average is $166.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted 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 net margin of 26.03% and a return on equity of 38.81%. On average, research analysts forecast that QUALCOMM will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock worth $4,000,870 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QCOM. Nordea Investment Management AB raised its position in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in QUALCOMM by 21.9% in the fourth 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 acquired a new position in QUALCOMM in the fourth quarter worth about $2,058,000. Burney Co. raised its position in QUALCOMM by 665.6% in the fourth 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, Wedge Capital Management L L P NC raised its position in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Institutional investors and hedge funds 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.