Rosenblatt Securities Believes Qualcomm (QCOM) Still Has Room to Grow

Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Qualcomm (QCOM) today. The company’s shares closed last Tuesday at $154.45, close to its 52-week high of $161.07.

According to, Cassidy is a 5-star analyst with an average return of 25.4% and a 71.9% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Skyworks Solutions, and ON Semiconductor.

Currently, the analyst consensus on Qualcomm is a Moderate Buy with an average price target of $165.59, implying a 7.2% upside from current levels. In a report issued on January 4, Canaccord Genuity also maintained a Buy rating on the stock with a $180.00 price target.

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The company has a one-year high of $161.07 and a one-year low of $58.00. Currently, Qualcomm has an average volume of 7.92M.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QCOM in relation to earlier this year.

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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.

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