Qualcomm (QCOM) Upgraded By Citigroup

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Qualcomm Inc. (QCOM) is an American multinational semiconductor and telecommunications equipment company that designs and markets wireless telecommunications products and services. It derives most of its revenue from chipmaking and the bulk of its profit from patent licensing businesses.

Citigroup Analyst, Christopher Danely raised his price target from neutral to buy with a $108 price target. Qualcomm was also upgraded yesterday by Michael Walkley, an analyst at Canaccord Genuity who assigned the stock with a $115 price target. Shares of Qualcomm (QCOM) are trading 5% higher today.

Analyst, Danely said in a statement that Qualcomm is “one of the most exposed stocks to 5G” and 2020 will “be the year where the company experiences accelerating revenue and EPS growth driven by the beginning of the 5G upgrade cycle.”

Institutional Ownership

Qualcomm Inc. has an institutional ownership of (78.35%). Lake Street Financial LLC recently purchased a new position in (NASDAQ: QCOM) in the fourth quarter of 2019, valued at approximately $316,000. Fulton Breakefield Broenniman LLC has also acquired a new stake in (NASDAQ: QCOM) in the fourth quarter, valued at approximately $223.000. Qualcomm is owned by institutions including Vanguard Group, Wells Fargo, Charles Schwab and The Royal Bank of Canada.

About Qualcomm

Qualcomm designs, develops and manufactures breakthrough digital communication technology for the world. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses. Qualcomm (QCOM) is now uniquely positioned to benefit from the accelerating growth of the 5G revolution and newly developed technologies including IOT products (Smart homes, Smart speakers), automation (Self-Driving Cars).

For more information,
visit www.qualcomm.com

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