Wells Fargo has decided to maintain its Equal-Weight rating of Qualcomm (NASDAQ:QCOM) and lower its price target from $185.00 to $150.00.
Shares of Qualcomm are trading up 6.49% over the last 24 hours, at $143.87 per share.
A move to $150.00 would account for a 4.26% increase from the current share price.
About Qualcomm
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G and 4G networks. The firm is a leader in 5G network technology as well. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones and chips into automotive and Internet of Things markets.
About Analyst Ratings
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
