QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.6% – Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was down 1.6% on Friday . The stock traded as low as $155.55 and last traded at $156.61. Approximately 1,639,871 shares were traded during trading, a decline of 74% from the average daily volume of 6,226,186 shares. The stock had previously closed at $159.08.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Performance

The stock has a market capitalization of $174.37 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.65 and a beta of 1.25. The company’s fifty day simple moving average is $159.84 and its 200 day simple moving average is $170.64. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds have recently added to or reduced their stakes in the business. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at about $30,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during 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 period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the third quarter worth about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors.

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.