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

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price was down 0.4% during mid-day trading on Monday . The company traded as low as $154.80 and last traded at $156.37. Approximately 1,314,002 shares were traded during trading, a decline of 79% from the average daily volume of 6,167,121 shares. The stock had previously closed at $156.98.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Finally, Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $207.11.

QUALCOMM Stock Performance

The company has a market capitalization of $182.66 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business's fifty day moving average is $159.38 and its two-hundred day moving average is $169.37.

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

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business'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 sale, the chief accounting officer now owns 94 shares of the company's stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the 2nd quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the third quarter worth about $26,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% in the third 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 period. Hershey Financial Advisers LLC purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $42,000. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the 3rd quarter valued at about $36,000. 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.

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