QUALCOMM (NASDAQ:QCOM) Trading Down 1.1%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 1.1% during trading on Tuesday . The company traded as low as $167.95 and last traded at $167.98. Approximately 1,456,188 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 8,542,885 shares. The stock had previously closed at $169.84.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. Citigroup lowered QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $173.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, February 1st. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. Finally, Barclays upped their price target on QUALCOMM from $140.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $156.90.

QUALCOMM Stock Performance

The firm has a fifty day moving average of $163.62 and a 200-day moving average of $141.64. The firm has a market cap of $188.14 billion, a P/E ratio of 24.34, a PEG ratio of 2.34 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

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

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following 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 available at the SEC website. In other news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following 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 available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock valued at $7,184,678 over the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its holdings in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company's stock worth $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter worth about $2,507,978,000. Cowa LLC bought a new position in QUALCOMM in the first quarter valued at approximately $94,000. Morgan Stanley grew its stake in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company's stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company's stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Institutional investors and hedge funds 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.