Evercore ISI Issues Pessimistic Forecast for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price target cut by stock analysts at Evercore ISI from $179.00 to $157.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "in-line" rating on the wireless technology company's stock. Evercore ISI's target price would suggest a potential upside of 12.23% from the company's previous close.

A number of other research analysts also recently weighed in on QCOM. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $192.58.

QUALCOMM Stock Up 0.3 %

NASDAQ:QCOM traded up $0.45 during mid-day trading on Friday, reaching $139.89. The stock had a trading volume of 3,198,767 shares, compared to its average volume of 8,855,698. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $154.72 billion, a P/E ratio of 14.89, a PEG ratio of 2.01 and a beta of 1.28. The business's 50 day moving average is $147.28 and its 200 day moving average is $158.13. QUALCOMM has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. As a group, sell-side analysts predict that QUALCOMM will post 9.39 earnings per share for the current year.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock valued at $5,733,290 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter worth $27,000. Finally, WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Institutional investors own 74.35% of the company's stock.

About QUALCOMM

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.