QUALCOMM (NASDAQ:QCOM) Earns Hold Rating from Analysts at Melius Research

Investment analysts at Melius Research started coverage on shares of QUALCOMM (NASDAQ:QCOM) in a note issued to investors on Monday,Benzinga reports. The brokerage set a “hold” rating and a $180.00 price target on the wireless technology company’s stock. Melius Research’s target price would indicate a potential upside of 12.85% from the stock’s current price.

QCOM has been the topic of several other research reports. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a research note on Monday. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Price Performance

Shares of QCOM traded down $0.88 during midday trading on Monday, reaching $159.51. The stock had a trading volume of 9,918,412 shares, compared to its average volume of 7,883,970. The company has a market capitalization of $177.22 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM has a 12-month low of $130.39 and a 12-month high of $230.63. The company’s 50-day moving average is $165.93 and its 200 day moving average is $179.32.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,450 shares of company stock worth $3,395,926. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently modified their holdings of QCOM. State Street Corp raised its stake in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC increased its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc raised its position in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after buying an additional 498,284 shares during the period. Finally, Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. 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.