QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) fell 1.6% during mid-day trading on Friday . The company traded as low as $155.55 and last traded at $156.61. 1,639,871 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 6,226,186 shares. The stock had previously closed at $159.08.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. TD Cowen upgraded QUALCOMM to a "strong-buy" rating in a report on Monday, September 16th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.11.
Get Our Latest Stock Analysis on QCOM
QUALCOMM Price Performance
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 market capitalization of $174.40 billion, a P/E ratio of 17.46, a PEG ratio of 2.65 and a beta of 1.25. The company's fifty day moving average price is $159.67 and its 200 day moving average price is $170.33.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.
Insiders Place Their Bets
In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last three months. Insiders own 0.08% of the company's stock.
Institutional Investors Weigh In On QUALCOMM
Several hedge funds have recently modified their holdings of QCOM. MGO One Seven LLC grew its holdings in QUALCOMM by 4.8% during the 2nd quarter. MGO One Seven LLC now owns 13,059 shares of the wireless technology company's stock worth $2,601,000 after acquiring an additional 604 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in QUALCOMM in the second quarter valued at $438,000. LPL Financial LLC raised its position in QUALCOMM by 10.4% during the 2nd quarter. LPL Financial LLC now owns 1,163,321 shares of the wireless technology company's stock worth $231,710,000 after purchasing an additional 109,549 shares during the last quarter. American Century Companies Inc. lifted its holdings in QUALCOMM by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,067 shares of the wireless technology company's stock worth $209,750,000 after buying an additional 28,327 shares during the period. Finally, Montis Financial LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 74.35% of the company's stock.
About QUALCOMM
(
Get Free Report)
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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