QUALCOMM (NASDAQ:QCOM) Stock Price Down 1% - Should You Sell?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) fell 1% on Friday . The stock traded as low as $157.37 and last traded at $157.49. 1,337,655 shares were traded during trading, a decline of 84% from the average session volume of 8,511,357 shares. The stock had previously closed at $159.09.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Loop Capital cut their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and an average target price of $186.39.

QUALCOMM Price Performance

The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $152.48 and its two-hundred day simple moving average is $155.07. The firm has a market cap of $173.97 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the prior year, the company posted $2.44 earnings per share. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Eagle Strategies LLC boosted its position in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the period. PDS Planning Inc boosted its holdings in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares in the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in QUALCOMM by 6.7% in the first quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company's stock valued at $161,000 after acquiring an additional 66 shares during the period. 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.

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