Citigroup Lowers QUALCOMM (NASDAQ:QCOM) Price Target to $145.00

QUALCOMM (NASDAQ:QCOM - Free Report) had its price objective reduced by Citigroup from $185.00 to $145.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the wireless technology company's stock.

Several other research firms also recently commented on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $201.21.

QUALCOMM Stock Performance

QCOM stock traded down $0.25 during midday trading on Friday, reaching $138.94. The stock had a trading volume of 602,513 shares, compared to its average volume of 8,842,189. The firm has a fifty day simple moving average of $155.76 and a two-hundred day simple moving average of $161.16. QUALCOMM has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market cap of $153.66 billion, a PE ratio of 14.81, a P/E/G ratio of 2.01 and a beta of 1.28.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts anticipate that QUALCOMM will post 9.39 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock worth $5,047,052 in the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB raised its stake in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its position in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new position in QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. boosted its position in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $240,000. 74.35% of the stock is owned by institutional investors and hedge funds.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.