QUALCOMM (NASDAQ:QCOM) Shares Down 0.4% - Here's Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) fell 0.4% on Monday . The stock traded as low as $154.80 and last traded at $156.37. 1,314,002 shares changed hands during trading, a decline of 79% from the average session volume of 6,167,121 shares. The stock had previously closed at $156.98.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, October 16th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research report 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.11.

QUALCOMM Stock Up 0.1 %

The stock has a market cap of $174.57 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $159.51 and a two-hundred day simple moving average of $169.65.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $9.90 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Buying and Selling

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

A number of large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its holdings in QUALCOMM by 31.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 667 shares of the wireless technology company's stock valued at $133,000 after buying an additional 161 shares in the last quarter. Westover Capital Advisors LLC bought a new stake in QUALCOMM in the 2nd quarter valued at $395,000. Parallel Advisors LLC increased its holdings in QUALCOMM by 2.1% in the 2nd quarter. Parallel Advisors LLC now owns 14,769 shares of the wireless technology company's stock valued at $2,942,000 after acquiring an additional 297 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in QUALCOMM by 21.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 13,848 shares of the wireless technology company's stock worth $2,758,000 after purchasing an additional 2,484 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of QUALCOMM by 0.6% during the second quarter. J.W. Cole Advisors Inc. now owns 12,481 shares of the wireless technology company's stock valued at $2,486,000 after purchasing an additional 73 shares in the last quarter. 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.