QUALCOMM (NASDAQ:QCOM) had its price objective hoisted by equities researchers at Deutsche Bank from $100.00 to $115.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Deutsche Bank’s price objective would indicate a potential upside of 8.89% from the stock’s previous close.

Several other equities research analysts have also issued reports on QCOM. JPMorgan Chase & Co. lifted their price target on shares of QUALCOMM from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. UBS Group lifted their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Morgan Stanley upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and set a $102.00 price target on the stock in a research note on Tuesday, June 16th. KeyCorp lifted their price target on shares of QUALCOMM from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average price target of $106.36.

Shares of NASDAQ:QCOM traded down $1.58 during midday trading on Thursday, reaching $105.61. 16,770,274 shares of the company were exchanged, compared to its average volume of 8,403,357. QUALCOMM has a fifty-two week low of $58.00 and a fifty-two week high of $107.75. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The stock has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $82.54. The firm has a market cap of $120.94 billion, a PE ratio of 44.56, a P/E/G ratio of 1.98 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business earned $0.80 EPS. The company’s revenue was down .1% compared to the same quarter last year. As a group, analysts forecast that QUALCOMM will post 3.08 earnings per share for the current year.

In other QUALCOMM news, CEO Steven M. Mollenkopf sold 219,131 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $93.66, for a total value of $20,523,809.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the sale, the chief financial officer now directly owns 17,790 shares of the company’s stock, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. Insiders sold a total of 235,740 shares of company stock valued at $22,024,427 in the last three months. Insiders own 0.12% of the company’s stock.

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of QUALCOMM by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 16,747,551 shares of the wireless technology company’s stock valued at $1,131,038,000 after buying an additional 287,438 shares in the last quarter. Capital World Investors raised its position in shares of QUALCOMM by 5.2% in the 1st quarter. Capital World Investors now owns 15,268,873 shares of the wireless technology company’s stock valued at $1,032,939,000 after buying an additional 751,290 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of QUALCOMM by 6.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock valued at $687,798,000 after buying an additional 571,593 shares in the last quarter. Royal Bank of Canada raised its position in shares of QUALCOMM by 1.6% in the 1st quarter. Royal Bank of Canada now owns 8,278,895 shares of the wireless technology company’s stock valued at $560,068,000 after buying an additional 127,006 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of QUALCOMM by 0.8% in the 1st quarter. Legal & General Group Plc now owns 7,646,576 shares of the wireless technology company’s stock valued at $519,692,000 after buying an additional 62,298 shares in the last quarter. Institutional investors own 74.50% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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