Fintel reports that on December 9, 2024, Melius Research initiated coverage of QUALCOMM (NasdaqGS:QCOM) with a Hold recommendation.
Analyst Price Forecast Suggests 31.29% Upside
As of December 2, 2024, the average one-year price target for QUALCOMM is $209.42/share. The forecasts range from a low of $161.60 to a high of $283.50. The average price target represents an increase of 31.29% from its latest reported closing price of $159.51 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for QUALCOMM is 46,456MM, an increase of 19.23%. The projected annual non-GAAP EPS is 11.57.
What is the Fund Sentiment?
There are 4,138 funds or institutions reporting positions in QUALCOMM. This is an decrease of 38 owner(s) or 0.91% in the last quarter. Average portfolio weight of all funds dedicated to QCOM is 0.54%, an increase of 22.54%. Total shares owned by institutions increased in the last three months by 0.20% to 951,541K shares. 
The put/call ratio of QCOM is 1.07, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 35,310K shares representing 3.18% ownership of the company. In its prior filing, the firm reported owning 35,262K shares , representing an increase of 0.14%. The firm decreased its portfolio allocation in QCOM by 19.70% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 29,177K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 28,694K shares , representing an increase of 1.65%. The firm decreased its portfolio allocation in QCOM by 20.11% over the last quarter.
Geode Capital Management holds 27,128K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 25,139K shares , representing an increase of 7.33%. The firm decreased its portfolio allocation in QCOM by 55.49% over the last quarter.
Invesco Qqq Trust, Series 1 holds 21,635K shares representing 1.95% ownership of the company. In its prior filing, the firm reported owning 21,494K shares , representing an increase of 0.65%. The firm decreased its portfolio allocation in QCOM by 15.94% over the last quarter.
Price T Rowe Associates holds 16,177K shares representing 1.46% ownership of the company. In its prior filing, the firm reported owning 15,459K shares , representing an increase of 4.44%. The firm decreased its portfolio allocation in QCOM by 57.08% over the last quarter.
Qualcomm Background Information
(This description is provided by the company.)
Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G. When people connected the phone to the internet, the mobile revolution was born. Today, foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. The company brings the benefits of mobile to new industries, including automotive, the internet of things, and computing, and are leading the way to a world where everything and everyone can communicate and interact seamlessly. Qualcomm Incorporated includes licensing business, QTL, and the vast majority of patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business.
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