QUALCOMM, Inc. (NASDAQ:QCOM) was upgraded by analysts at Susquehanna from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Saturday, Market Beat Ratings reports. The brokerage presently has a $60.00 target price on the wireless technology company’s stock, up from their prior target price of $53.00. Susquehanna’s price target would suggest a potential upside of 32.33% from the company’s current price.

QUALCOMM (NASDAQ:QCOM) traded up 4.01% during trading on Friday, reaching $45.34. The company’s stock had a trading volume of 24,039,178 shares. The company has a market cap of $67.78 billion and a PE ratio of 15.06. QUALCOMM has a 52-week low of $43.47 and a 52-week high of $74.09. The stock has a 50-day moving average price of $47.71 and a 200 day moving average price of $54.73.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 27th. The wireless technology company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.07. During the same period in the previous year, the firm earned $1.34 EPS. The firm earned $5.78 billion during the quarter, compared to analysts’ expectations of $5.68 billion. The firm’s revenue was down 18.7% on a year-over-year basis. On average, analysts expect that QUALCOMM will post $4.10 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 23rd. Shareholders of record on Wednesday, March 2nd will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, February 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.23%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.25.

Other hedge funds and institutional investors recently modified their holdings of the company. Needelman Asset Management boosted its position in shares of QUALCOMM by 55.5% in the fourth quarter. Needelman Asset Management now owns 18,880 shares of the wireless technology company’s stock worth $944,000 after buying an additional 6,735 shares during the last quarter. First American Trust boosted its position in shares of QUALCOMM by 111.6% in the fourth quarter. First American Trust now owns 54,359 shares of the wireless technology company’s stock worth $2,717,000 after buying an additional 28,671 shares during the last quarter. West Oak Capital boosted its position in shares of QUALCOMM by 8.8% in the fourth quarter. West Oak Capital now owns 24,672 shares of the wireless technology company’s stock worth $1,233,230 after buying an additional 2,000 shares during the last quarter. River & Mercantile Asset Management bought a new position in shares of QUALCOMM during the fourth quarter worth about $1,769,000. Finally, Indiana Trust & Investment Management Company boosted its position in shares of QUALCOMM by 271.9% in the fourth quarter. Indiana Trust & Investment Management Company now owns 29,912 shares of the wireless technology company’s stock worth $2,223,000 after buying an additional 21,870 shares during the last quarter.

Several other analysts also recently weighed in on QCOM. Nomura lifted their target price on shares of QUALCOMM from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Canaccord Genuity lowered their target price on shares of QUALCOMM from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Northland Securities raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Friday, January 22nd. JMP Securities decreased their price objective on shares of QUALCOMM from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Friday, November 6th. Finally, Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a report on Wednesday, January 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $63.35.

In other QUALCOMM news, Director Raymond V. Dittamore sold 7,000 shares of QUALCOMM stock in a transaction on Monday, November 16th. The stock was sold at an average price of $52.49, for a total transaction of $367,430.00. Following the completion of the transaction, the director now directly owns 5,599 shares of the company’s stock, valued at $293,891.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Cristiano R. Amon sold 9,351 shares of QUALCOMM stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $51.82, for a total value of $484,568.82. Following the transaction, the executive vice president now directly owns 1,010 shares of the company’s stock, valued at $52,338.20. The disclosure for this sale can be found here.

Qualcomm Incorporated (NASDAQ:QCOM) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. 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. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Company’s Brew platform enables feature phone applications, such as gaming, messaging, Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G, 4G, and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points, creating networks by plugging in.

12 Month Chart for NASDAQ:QCOM

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