QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded up 1.2% during mid-day trading on Monday . The company traded as high as $143.11 and last traded at $140.89. 1,379,660 shares traded hands during trading, a decline of 84% from the average session volume of 8,852,220 shares. The stock had previously closed at $139.25.
Wall Street Analysts Forecast Growth
QCOM has been the topic of several analyst reports. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $201.21.
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QUALCOMM Trading Down 1.6 %
The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $150.83 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a fifty day simple moving average of $155.15 and a 200 day simple moving average of $161.00.
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QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.
Insider Activity at QUALCOMM
In other news, insider Alexander H. Rogers sold 19,287 shares of the company'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 sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,666 shares of company stock worth $5,047,052. Company insiders own 0.08% of the company's stock.
Institutional Investors Weigh In On QUALCOMM
A number of large investors have recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $27,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter worth approximately $27,000. Finally, Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.
QUALCOMM Company Profile
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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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