QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price objective dropped by TD Cowen from $195.00 to $160.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the wireless technology company's stock. TD Cowen's price objective would suggest a potential upside of 14.90% from the stock's previous close.
A number of other equities analysts have also recently commented on the company. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $201.21.
Get Our Latest Analysis on QCOM
QUALCOMM Price Performance
QUALCOMM stock traded up $4.85 during mid-day trading on Wednesday, reaching $139.25. 10,947,680 shares of the company's stock traded hands, compared to its average volume of 8,878,501. QUALCOMM has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $156.49 and a two-hundred day moving average of $161.46. The company has a market cap of $154.01 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.01 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM will post 9.39 earnings per share for the current year.
Insider Buying and Selling
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last three months. 0.08% of the stock is owned by insiders.
Institutional Trading of QUALCOMM
A number of institutional investors have recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.
About QUALCOMM
(
Get Free Report)
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.
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