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

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price target reduced by investment analysts at Barclays from $200.00 to $185.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has an "overweight" rating on the wireless technology company's stock. Barclays's price target suggests a potential upside of 12.42% from the company's previous close.

A number of other analysts have also recently commented on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective on the stock. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, October 16th. Finally, KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $206.57.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ:QCOM traded up $3.13 during trading on Friday, reaching $164.56. The stock had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. The firm's 50-day simple moving average is $158.85 and its 200 day simple moving average is $169.03. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM has a one year low of $139.26 and a one year high of $230.63. The company has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. As a group, research analysts expect that QUALCOMM will post 9.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company's stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. Insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter valued at about $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after buying an additional 114 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc acquired a new position in QUALCOMM in the third quarter valued at approximately $36,000. 74.35% of the stock is currently 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.