QUALCOMM (NASDAQ:QCOM) Trading Up 1.7% – Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) shares traded up 1.7% on Tuesday . The stock traded as high as $163.45 and last traded at $162.49. 1,724,197 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 5,451,816 shares. The stock had previously closed at $159.85.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research reports. Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.11.

Get Our Latest Report on QCOM

QUALCOMM Stock Performance

The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $159.91 and a 200 day moving average price of $170.72. The stock has a market cap of $176.74 billion, a PE ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp lifted 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 valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

(Get Free Report)

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.

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