QUALCOMM (NASDAQ:QCOM) Hits New 52-Week Low - What's Next?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $120.80 and last traded at $122.51, with a volume of 1648431 shares changing hands. The stock had previously closed at $127.46.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $202.64.

QUALCOMM Stock Up 3.6 %

The stock 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. 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 business's fifty day moving average is $157.17 and its two-hundred day moving average is $161.66.

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 net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on 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. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now owns 56,445 shares of the company's stock, valued at $7,964,953.95. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,666 shares of company stock worth $5,047,052. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.