Qualcomm (QCOM) Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released today, Rick Schafer from Oppenheimer maintained a Hold rating on Qualcomm (QCOMResearch Report). The company’s shares closed last Wednesday at $128.97, close to its 52-week high of $132.42.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 18.2% and a 76.3% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and Skyworks Solutions.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Qualcomm with a $140.81 average price target.

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The company has a one-year high of $132.42 and a one-year low of $58.00. Currently, Qualcomm has an average volume of 8.02M.

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QUALCOMM, Inc. engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products. The QTL segment grants licenses and provides rights to use portions of the firm’s intellectual property portfolio. The QSI segment focuses on opening new or expanding opportunities for its technologies and supporting the design and introduction of new products and services for voice and data communications. The company was founded by Franklin P. Antonio, Adelia A. Coffman, Andrew Cohen, Klein Gilhousen, Irwin Mark Jacobs, Andrew J. Viterbi, and Harvey P. White in July 1985 and is headquartered in San Diego, CA.