QUALCOMM (NASDAQ:QCOM) Stock Price Down 2%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price traded down 2% during trading on Friday . The stock traded as low as $171.35 and last traded at $171.64. 1,131,618 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 8,573,300 shares. The stock had previously closed at $175.13.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on QCOM shares. Cantor Fitzgerald upped their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday. Mizuho upped their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 7th. Susquehanna upped their target price on QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on QUALCOMM from $173.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.90.

QUALCOMM Price Performance

The stock has a market capitalization of $191.16 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The business's 50-day moving average price is $162.51 and its 200 day moving average price is $140.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company's stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 689 shares of the company's stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock valued at $7,184,678 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QCOM. Ignite Planners LLC increased its position in QUALCOMM by 2.7% during the 1st quarter. Ignite Planners LLC now owns 8,401 shares of the wireless technology company's stock valued at $1,443,000 after purchasing an additional 221 shares during the period. Pacifica Partners Inc. increased its position in shares of QUALCOMM by 30.0% during the first quarter. Pacifica Partners Inc. now owns 325 shares of the wireless technology company's stock valued at $54,000 after buying an additional 75 shares during the period. Harbor Investment Advisory LLC increased its position in shares of QUALCOMM by 2.9% during the first quarter. Harbor Investment Advisory LLC now owns 8,389 shares of the wireless technology company's stock valued at $1,420,000 after buying an additional 238 shares during the period. Global Assets Advisory LLC bought a new position in QUALCOMM in the first quarter worth about $238,770,000. Finally, CHICAGO TRUST Co NA lifted its holdings in QUALCOMM by 3.9% in the first quarter. CHICAGO TRUST Co NA now owns 5,649 shares of the wireless technology company's stock worth $956,000 after buying an additional 210 shares during the period. 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.