Cantor Fitzgerald Reiterates Neutral Rating for QUALCOMM (NASDAQ:QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They currently have a $160.00 price objective on the wireless technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 9.02% from the stock’s current price.

QCOM has been the subject of several other reports. Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.04.

QUALCOMM Stock Up 1.6 %

QCOM stock opened at $175.86 on Thursday. QUALCOMM has a 52 week low of $142.43 and a 52 week high of $230.63. The business has a 50-day simple moving average of $161.70 and a 200 day simple moving average of $166.02. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $195.38 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Sell-side analysts anticipate that QUALCOMM will post 9.16 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Planning Capital Management Corp increased its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.