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Qualcomm (NASDAQ:QCOM) target price raised to $70.00, reported today by RBC Capital

Yesterday Qualcomm (NASDAQ:QCOM) traded 1.56% higher at $68.50. The company’s 50-day moving average is $62.97 and its 200-day moving average is $56.28. The last stock close price is up 21.71% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 34,879,502 shares of the stock were exchanged, up from an average trading volume of 9,178,870

Qualcomm (NASDAQ:QCOM) had its target price raised to $70.00 by RBC Capital in a report released 10/03/2016. The new target price indicates a possible upside of 0.02% based on the company's last stock close price.

Previously on 9/30/2016, Mizuho Securities reported about Qualcomm (NASDAQ:QCOM) raised the target price from $0.00 to $75.00. At the time, this indicated a possible upside of 0.11%.

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Qualcomm (NASDAQ:QCOM)

Qualcomm has a 52 week low of $42.24 and a 52 week high of $70.40 with a P/E ratio of 20.06 The company’s market cap is currently $0.

In addition to RBC Capital reporting its target price, a total of 25 firms have reported on the stock. The consensus target price is $57.19 with 7 firms rating the stock a strong buy, 10 firms rating the stock a buy, 16 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Qualcomm (NASDAQ: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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