QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $140.00 at Wells Fargo & Company

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price objective dropped by Wells Fargo & Company from $175.00 to $140.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the wireless technology company's stock. Wells Fargo & Company's price objective suggests a potential upside of 0.40% from the stock's previous close.

A number of other research analysts have also issued reports on QCOM. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $192.58.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.37 during trading on Thursday, reaching $139.44. The company had a trading volume of 7,116,465 shares, compared to its average volume of 8,877,240. The firm has a market capitalization of $154.22 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm's 50-day simple moving average is $147.74 and its 200 day simple moving average is $158.35. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during 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 quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. As a group, equities research analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,266 shares of company stock worth $5,267,436 in the last ninety days. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently bought and sold shares of the business. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter worth about $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares during the last quarter. Finally, CKW Financial Group acquired a new stake in QUALCOMM during the fourth quarter worth about $27,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.