Mizuho Lowers QUALCOMM (NASDAQ:QCOM) Price Target to $215.00

QUALCOMM (NASDAQ:QCOM) had its target price dropped by equities research analysts at Mizuho from $245.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the wireless technology company’s stock. Mizuho’s price target would indicate a potential upside of 32.28% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Stock Performance

QCOM traded up $2.68 during trading hours on Tuesday, reaching $162.53. The company’s stock had a trading volume of 1,804,143 shares, compared to its average volume of 5,525,358. The company’s 50-day moving average is $160.39 and its 200-day moving average is $171.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $180.57 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. QUALCOMM has a 52 week low of $136.03 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, equities analysts forecast that QUALCOMM will post 9.09 EPS for the current year.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter valued at approximately $39,000. 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.