QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.1%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price dropped 1.1% during trading on Tuesday . The stock traded as low as $167.95 and last traded at $167.98. Approximately 1,456,188 shares were traded during trading, a decline of 83% from the average daily volume of 8,542,885 shares. The stock had previously closed at $169.84.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 target price on the stock. Canaccord Genuity Group lifted their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Barclays lifted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Mizuho lifted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Susquehanna lifted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Price 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 company’s 50 day moving average price is $163.62 and its 200 day moving average price is $141.64. The company has a market cap of $188.92 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 2.34 and a beta of 1.41.

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

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,360 shares of company stock worth $7,184,678. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. lifted its holdings in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. O Dell Group LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $28,000. Finally, Legacy Financial Group LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

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.