QUALCOMM (NASDAQ:QCOM) Trading 0% Higher - Still a Buy?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) rose 0% on Friday . The stock traded as high as $135.75 and last traded at $134.44. Approximately 3,082,856 shares traded hands during trading, a decline of 65% from the average daily volume of 8,838,090 shares. The stock had previously closed at $134.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QCOM shares. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Finally, Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $201.21.

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QUALCOMM Trading Down 0.4 %

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 $155.76 and its 200-day moving average is $161.16. The stock has a market capitalization of $153.29 billion, a PE ratio of 14.81, a P/E/G ratio of 2.01 and a beta of 1.28.

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%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 648 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Nordea Investment Management AB boosted its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,058,000. Burney Co. increased its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM during the 4th quarter valued at $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

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.