QUALCOMM (NASDAQ:QCOM) Price Target Cut to $185.00 by Analysts at Barclays

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its target price decreased by analysts at Barclays from $200.00 to $185.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the wireless technology company's stock. Barclays's price objective points to a potential upside of 12.41% from the stock's current price.

Several other research firms have also weighed in on QCOM. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $206.57.

QUALCOMM Trading Up 2.0 %

NASDAQ QCOM traded up $3.15 on Friday, hitting $164.58. 5,506,751 shares of the company were exchanged, compared to its average volume of 6,887,479. QUALCOMM has a twelve month low of $139.26 and a twelve month high of $230.63. The company's 50 day moving average price is $158.98 and its 200-day moving average price is $169.28. The firm has a market capitalization of $182.85 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Analysts predict that QUALCOMM will post 9.09 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of the business. True North Advisors LLC increased its stake in shares of QUALCOMM by 9.1% in the fourth quarter. True North Advisors LLC now owns 5,238 shares of the wireless technology company's stock valued at $805,000 after buying an additional 438 shares in the last quarter. Hudson Capital Management LLC increased its position in QUALCOMM by 2.5% in the 4th quarter. Hudson Capital Management LLC now owns 26,840 shares of the wireless technology company's stock valued at $4,123,000 after acquiring an additional 642 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of QUALCOMM by 9.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 644,711 shares of the wireless technology company's stock worth $99,041,000 after acquiring an additional 56,822 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of QUALCOMM by 3.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 398,879 shares of the wireless technology company's stock worth $61,276,000 after purchasing an additional 11,690 shares in the last quarter. Finally, Sharp Financial Services LLC grew its stake in shares of QUALCOMM by 11.7% during the fourth quarter. Sharp Financial Services LLC now owns 6,097 shares of the wireless technology company's stock valued at $937,000 after purchasing an additional 638 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.