QUALCOMM (NASDAQ:QCOM) Trading Down 1.6% – What’s Next?

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

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $174.40 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a 50-day moving average price of $159.67 and a 200-day moving average price of $170.11.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On QUALCOMM

Large investors have recently modified their holdings of the business. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter worth approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM during the second quarter valued at $30,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $39,000. 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.