Price Target Update on QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) : The most positive equity analysts on QUALCOMM Incorporated (NASDAQ:QCOM) expects the shares to touch $65, whereas, the least positive believes that the stock will trade at $39 in the short term. The company is covered by 17 Wall Street Brokerage Firms. The average price target for shares are $57.18 with an expected fluctuation of $7.37 from the mean.

Other Equity analysts have also commented on the company shares. Brokerage firm Brean Capital downgrades its rating on QUALCOMM Incorporated (NASDAQ:QCOM). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 9, 2016.

QUALCOMM Incorporated (NASDAQ:QCOM): stock turned positive on Thursday. Though the stock opened at $54.85, the bulls momentum made the stock top out at $55.57 level for the day. The stock recorded a low of $54.57 and closed the trading day at $55.55, in the green by 2.79%. The total traded volume for the day was 8,952,241. The stock had closed at $54.04 in the previous days trading.

The company shares have dropped -17.19% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $66.05 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $53.49 and the 200 Day Moving Average price is recorded at $50.43. On the companys insider trading activities,The officer (EVP, Qualcomm Technologies Inc) of Qualcomm Inc/De, Grob Matthew S sold 10,000 shares at $55.25 on May 24, 2016. The Insider selling transaction had a total value worth of $552,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The Companys 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 Companys 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.

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