14.50% to Target, Cowen Keeps Outperform Rating for Qualcomm Inc (NASDAQ:QCOM) Stock

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Qualcomm Inc (NASDAQ:QCOM) Rating

They currently have a $69.00 target price on Qualcomm Inc (NASDAQ:QCOM). Cowen’s target would suggest a potential upside of 14.50% from the company’s last stock close. This was disclosed in analysts note on Thursday morning.

Out of 14 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 8 rate it “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. $75 is the highest target while $55 is the lowest. The $67.12 average target is 11.38% above today’s ($60.26) stock price. Qualcomm Inc. was the topic in 20 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Rosenblatt initiated the stock on October 22 with “Buy” rating. Topeka Capital Markets maintained it with “Hold” rating and $65 target price in a July 23 report. Vetr upgraded the shares of QCOM in a report on August 19 to “Buy” rating. Stifel Nicolaus maintained the firm’s rating on July 23. Stifel Nicolaus has “Buy” rating and $70 price target. Finally, Cowen & Co maintained the stock with “Outperform” rating in a July 23 report.

The stock closed at $60.26 during the last session. It is down 11.34% since April 2, 2015 and is downtrending. It has underperformed by 13.05% the S&P500.

The institutional sentiment increased to 0.93 in Q2 2015. Its up 0.06, from 0.87 in 2015Q1. The ratio is positive, as 117 funds sold all QUALCOMM, Inc. shares owned while 599 reduced positions. 120 funds bought stakes while 543 increased positions. They now own 1.24 billion shares or 6.84% less from 1.33 billion shares in 2015Q1.

Quality Growth Management Inc. holds 26.19% of its portfolio in QUALCOMM, Inc. for 405,750 shares. Tam Capital Management Inc. owns 1.03 million shares or 23.16% of their US portfolio. Moreover, Jana Partners Llc has 10.73% invested in the company for 28.82 million shares. The Texas-based Penn Davis Mcfarland Inc has invested 9.73% in the stock. Edinburgh Partners Ltd, a United Kingdom-based fund reported 1.34 million shares.

Since March 11, 2015, the stock had 1 insider purchase, and 13 sales for $5.09 million net activity. Renduchintala Venkata S M sold 2,700 shares worth $150,066. Amon Cristiano R sold 2,737 shares worth $146,621. Vinciquerra Anthony J bought 1,000 shares worth $54,700. Sterling Michelle M sold 4,185 shares worth $248,253. The insider Aberle Derek K sold 14,794 shares worth $981,465.

Qualcomm Incorporated is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The company has a market cap of $94.68 billion. The Company’s products include 2net, AllPlay, Brew, Gobi, Halo, HealthyCircles, Hy-Fi, IPQ, IZat, Pixtronix, Powerline, QChat, QLearn, Small Cells, Snapdragon, Vive, RaptorQ, Vuforia and WiPower. It has 16.54 P/E ratio. AllPlay helps manufacturers create devices and services.

QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. The company’s business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. (Company Press Release)

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