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

QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $160.00 price objective on the wireless technology company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 2.95% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Citigroup lowered their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Rosenblatt Securities raised their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $155.42 on Wednesday. The company has a market cap of $172.67 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.77 and a beta of 1.28. The firm’s fifty day moving average price is $168.04 and its two-hundred day moving average price is $181.75. QUALCOMM has a one year low of $125.67 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of QCOM. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at $26,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds 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.