QUALCOMM (NASDAQ:QCOM) had its price objective raised by equities researchers at Rosenblatt Securities from $105.00 to $130.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the wireless technology company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 23.09% from the company’s previous close.

QCOM has been the topic of a number of other research reports. Mizuho reiterated a “buy” rating and set a $105.00 target price (up previously from $91.00) on shares of QUALCOMM in a research report on Wednesday. Bank of America boosted their target price on shares of QUALCOMM from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Canaccord Genuity boosted their target price on shares of QUALCOMM from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Susquehanna Bancshares reiterated a “buy” rating and set a $105.00 target price on shares of QUALCOMM in a research report on Friday, June 12th. Three 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 given a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and a consensus target price of $106.36.

Shares of NASDAQ:QCOM traded down $1.58 during trading on Thursday, reaching $105.61. The stock had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. The firm’s fifty day moving average is $90.67 and its 200 day moving average is $82.54. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.39 and a current ratio of 1.97. QUALCOMM has a 52 week low of $58.00 and a 52 week high of $107.75. The stock has a market cap of $120.94 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 1.98 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ 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 company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm posted $0.80 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that QUALCOMM will post 3.08 earnings per share for the current fiscal year.

In other news, EVP Donald J. Rosenberg sold 11,038 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.68, for a total value of $967,811.84. Following the completion of the transaction, the executive vice president now directly owns 3,591 shares in the company, valued at $314,858.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,822,051.80. The disclosure for this sale can be found here. Insiders sold 235,740 shares of company stock valued at $22,024,427 over the last 90 days. 0.12% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC raised its stake in QUALCOMM by 3.4% in the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock valued at $308,000 after purchasing an additional 110 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in QUALCOMM by 1.8% in the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock valued at $583,000 after purchasing an additional 116 shares in the last quarter. Nadler Financial Group Inc. raised its stake in QUALCOMM by 3.8% in the second quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock valued at $295,000 after purchasing an additional 118 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in QUALCOMM by 1.7% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,508 shares of the wireless technology company’s stock valued at $508,000 after purchasing an additional 125 shares in the last quarter. Finally, Country Club Trust Company n.a. raised its stake in QUALCOMM by 2.9% in the second quarter. Country Club Trust Company n.a. now owns 4,411 shares of the wireless technology company’s stock valued at $393,000 after purchasing an additional 125 shares in the last quarter. 74.50% of the stock is currently owned by institutional investors and hedge funds.

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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