QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.1%

QUALCOMM Incorporated (NASDAQ:QCOM) traded down 1.1% during mid-day trading on Tuesday . The stock traded as low as $167.95 and last traded at $167.98. 1,456,188 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 8,542,885 shares. The stock had previously closed at $169.84.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of QUALCOMM in a report on Tuesday. They issued an “in-line” rating and a $177.00 price target on the stock. Piper Sandler lifted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $188.92 billion, a PE ratio of 24.34, a PEG ratio of 2.34 and a beta of 1.41. The firm’s 50 day moving average price is $163.62 and its two-hundred day moving average price is $141.64.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, research analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock worth $7,184,678 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. OneAscent Financial Services LLC lifted its stake in shares of QUALCOMM by 125.9% in the first quarter. OneAscent Financial Services LLC now owns 5,019 shares of the wireless technology company’s stock valued at $850,000 after purchasing an additional 2,797 shares during the period. OneAscent Wealth Management LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at about $446,000. KRS Capital Management LLC raised its position in QUALCOMM by 1.4% during the first quarter. KRS Capital Management LLC now owns 10,917 shares of the wireless technology company’s stock worth $1,848,000 after acquiring an additional 149 shares during the last quarter. Cambridge Advisors Inc. raised its position in QUALCOMM by 2.9% during the first quarter. Cambridge Advisors Inc. now owns 3,596 shares of the wireless technology company’s stock worth $609,000 after acquiring an additional 100 shares during the last quarter. Finally, Norwood Financial Corp raised its position in QUALCOMM by 72.7% during the first quarter. Norwood Financial Corp now owns 475 shares of the wireless technology company’s stock worth $80,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.