Loop Capital Begins Coverage on QUALCOMM (NASDAQ:QCOM)

Loop Capital initiated coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report released on Monday, MarketBeat.com reports. The brokerage set a “hold” rating and a $180.00 price target on the wireless technology company’s stock. Loop Capital’s price target points to a potential upside of 10.15% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $210.92.

QUALCOMM Price Performance

QCOM stock opened at $163.41 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $181.55 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.74 and a beta of 1.28. The company’s fifty day simple moving average is $168.39 and its 200 day simple moving average is $182.46. QUALCOMM has a 12-month low of $122.63 and a 12-month high of $230.63.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 in the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pine Haven Investment Counsel Inc increased its holdings in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the period. Buffington Mohr McNeal grew its position in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares in the last quarter. TRUE Private Wealth Advisors raised its position in QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC lifted its stake in QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in 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.