QUALCOMM (NASDAQ:QCOM) Trading 1.2% Higher – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price was up 1.2% on Monday . The company traded as high as $143.11 and last traded at $140.89. Approximately 1,379,660 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 8,852,220 shares. The stock had previously closed at $139.25.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $201.21.

QUALCOMM Price Performance

The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $153.29 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average of $155.15 and a 200 day moving average of $161.00.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Strategies LLC grew its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC increased its position in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc raised its stake in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.