QUALCOMM (NASDAQ:QCOM) Shares Down 0.8%

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QCOM shares. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Rosenblatt Securities raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Barclays upped their target price 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. Finally, Canaccord Genuity Group raised their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM Stock Down 2.5 %

The stock has a market capitalization of $183.49 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.32 and a beta of 1.41. 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 $164.11 and its 200 day moving average price is $142.05.

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

Insider Activity

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. 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 over the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QCOM. Vanguard Group Inc. raised its holdings in QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after buying an additional 483,390 shares during the period. State Street Corp increased its position in QUALCOMM by 2.5% during the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after acquiring an additional 1,183,406 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares during the last quarter. Institutional investors 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.