QUALCOMM (NASDAQ:QCOM) Stock Price Down 2%

QUALCOMM Incorporated (NASDAQ:QCOM) fell 2% during trading on Friday . The company traded as low as $171.35 and last traded at $171.64. 1,131,618 shares changed hands during trading, a decline of 87% from the average session volume of 8,573,300 shares. The stock had previously closed at $175.13.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Susquehanna lifted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday. TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Piper Sandler boosted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $154.90.

QUALCOMM Stock Performance

The company has a 50-day moving average price of $163.10 and a two-hundred day moving average price of $141.00. The stock has a market capitalization of $191.16 billion, a P/E ratio of 24.82, a PEG ratio of 2.39 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Equities analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently bought and sold shares of the company. O Dell Group LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in QUALCOMM in the first quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $32,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in QUALCOMM in the third quarter valued at approximately $26,000. Hedge funds and other 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.