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A statement released earlier today by Canaccord Genuity about Qualcomm Inc. (NDAQ:QCOM) bumps the target price to $83.00

Canaccord Genuity bumped up the target of Qualcomm Inc. (NDAQ:QCOM) to $83.00 indicating a possible upside of 0.25%.

Yesterday Qualcomm Inc. (NDAQ:QCOM) traded -6.68% lower at $66.50. The company’s 50-day moving average is $52.45 and its 200-day moving average is $54.07. The last stock close price is up -5.66% from the 200-day moving average, compared to the S&P 500 which has increased 0.02% over the same time. 29,914,093 shares of the stock were exchanged, up from an average trading volume of 8,066,540

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Qualcomm Inc. (NDAQ:QCOM)

Qualcomm Inc. has a price-earnings ratio of 19.54 with a one year low of $48.92 and a one year high of $70.53 QCOM’s total market value is presently $0.

A total of 25 equity analysts have released a ratings update on QCOM. Seven equity analysts rating the company a strong buy, ten equity analysts rating the company a buy, sixteen equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $57.19.

Brief Synopsis About Qualcomm Inc. (NDAQ:QCOM)

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company's segments include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Company also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand. The Company's products principally consist of integrated circuits (chips or chipsets) and system software used in mobile devices and in wireless networks.

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