QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.8%

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.8% during trading on Wednesday . The stock traded as low as $166.68 and last traded at $167.29. Approximately 1,064,953 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 8,509,152 shares. The stock had previously closed at $168.58.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. 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 research note on Thursday, February 1st. Rosenblatt Securities raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Susquehanna raised their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Trading Down 2.5 %

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 capitalization of $183.49 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The firm has a 50 day moving average price of $164.11 and a two-hundred day moving average price of $142.05.

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,360 shares of company stock worth $7,184,678. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently added to or reduced their stakes in QCOM. O Dell Group LLC bought a new position in QUALCOMM in the fourth quarter worth $28,000. CarsonAllaria Wealth Management Ltd. boosted its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the first quarter worth about $26,000. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the fourth quarter worth about $32,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. 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.