Mizuho Cuts QUALCOMM (NASDAQ:QCOM) Price Target to $215.00

QUALCOMM (NASDAQ:QCOM) had its price target cut by Mizuho from $245.00 to $215.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the wireless technology company’s stock.

QCOM has been the topic of a number of other research reports. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Finally, Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Stock Down 0.9 %

QCOM opened at $159.08 on Tuesday. QUALCOMM has a 1-year low of $136.03 and a 1-year high of $230.63. The firm’s 50 day simple moving average is $159.84 and its two-hundred day simple moving average is $170.64. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $176.74 billion, a PE ratio of 17.70, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities analysts forecast that QUALCOMM will post 9.09 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last three months. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farmers Trust Co. boosted its position in QUALCOMM by 6.8% in the 4th quarter. Farmers Trust Co. now owns 3,136 shares of the wireless technology company’s stock valued at $482,000 after buying an additional 201 shares during the period. Innova Wealth Partners boosted its holdings in shares of QUALCOMM by 6.5% in the fourth quarter. Innova Wealth Partners now owns 1,461 shares of the wireless technology company’s stock valued at $225,000 after purchasing an additional 89 shares during the period. Range Financial Group LLC grew its stake in QUALCOMM by 306.5% in the fourth quarter. Range Financial Group LLC now owns 5,727 shares of the wireless technology company’s stock worth $880,000 after purchasing an additional 4,318 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter worth $455,000. Finally, Regent Peak Wealth Advisors LLC raised its position in QUALCOMM by 3.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,058 shares of the wireless technology company’s stock valued at $316,000 after purchasing an additional 68 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.