QUALCOMM (NASDAQ:QCOM) Given New $200.00 Price Target at Barclays

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by analysts at Barclays from $185.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the wireless technology company’s stock. Barclays‘s target price would suggest a potential upside of 21.94% from the stock’s current price.

A number of other research analysts have also recently weighed in on QCOM. Bank of America lifted their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. TD Cowen upped their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday. Finally, Benchmark reissued a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.67.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $16.94 during trading hours on Thursday, hitting $164.01. 11,620,984 shares of the company’s stock traded hands, compared to its average volume of 9,292,165. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The firm has a market capitalization of $183.04 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.03 and a beta of 1.27. The business’s fifty day moving average price is $202.69 and its two-hundred day moving average price is $178.02.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts predict that QUALCOMM will post 7.84 EPS for the current year.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM during the 1st quarter valued at $1,171,516,000. Putnam Investments LLC boosted its position in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in QUALCOMM by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after buying an additional 259,403 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.