Fintel reports that on August 23, 2023, Mizuho reiterated coverage of Qualcomm (NASDAQ:QCOM) with a Buy recommendation.
Analyst Price Forecast Suggests 25.11% Upside
As of August 2, 2023, the average one-year price target for Qualcomm is 139.08. The forecasts range from a low of 95.95 to a high of $192.15. The average price target represents an increase of 25.11% from its latest reported closing price of 111.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Qualcomm is 41,166MM, an increase of 6.69%. The projected annual non-GAAP EPS is 10.43.
What is the Fund Sentiment?
There are 3585 funds or institutions reporting positions in Qualcomm. This is a decrease of 109 owner(s) or 2.95% in the last quarter. Average portfolio weight of all funds dedicated to QCOM is 0.61%, a decrease of 6.40%. Total shares owned by institutions decreased in the last three months by 1.29% to 892,594K 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 34,517K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 34,077K shares, representing an increase of 1.27%. The firm increased its portfolio allocation in QCOM by 8.53% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 26,017K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 25,914K shares, representing an increase of 0.40%. The firm increased its portfolio allocation in QCOM by 8.05% over the last quarter.
Geode Capital Management holds 21,582K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 21,033K shares, representing an increase of 2.54%. The firm decreased its portfolio allocation in QCOM by 13.40% over the last quarter.
Price T Rowe Associates holds 18,820K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 16,356K shares, representing an increase of 13.09%. The firm decreased its portfolio allocation in QCOM by 0.60% over the last quarter.
Alliancebernstein holds 18,043K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 16,864K shares, representing an increase of 6.53%. The firm decreased its portfolio allocation in QCOM by 19.47% 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.
Additional reading:
- Qualcomm Announces Third Quarter Fiscal 2023 Results GAAP Revenues: $8.5 billion GAAP EPS: $1.60, Non-GAAP EPS: $1.87 —EPS Exceeded Midpoint of Guidance Range— —QCT Automotive: 11 Straight Quarters of Year-Over-Year Double Digit Percentage Growth in
- Amended and Restated Bylaws
- Qualcomm Announces Second Quarter Fiscal 2023 Results Revenues: $9.3 billion GAAP EPS: $1.52, Non-GAAP EPS: $2.15 —QCT Automotive: 20% Year-Over-Year Growth in Revenues— —Increased Quarterly Cash Dividend by 7% to $3.20 Annualized Payout—
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