QUALCOMM (NASDAQ:QCOM) Shares Down 2.5% - What's Next?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded down 2.5% during trading on Monday . The company traded as low as $157.96 and last traded at $158.16. 1,816,959 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 8,521,156 shares. The stock had previously closed at $162.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Citigroup increased their target price on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average price target of $186.39.

QUALCOMM Price Performance

The company has a market cap of $174.68 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26. 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 company's 50 day moving average price is $152.00 and its 200 day moving average price is $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS 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 quarter last year, the business earned $2.44 EPS. The business's revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares during the period. Proficio Capital Partners LLC raised its stake in shares of QUALCOMM by 50.1% in the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock valued at $645,000 after acquiring an additional 1,401 shares during the period. Sage Mountain Advisors LLC raised its stake in shares of QUALCOMM by 2.3% in the 4th quarter. Sage Mountain Advisors LLC now owns 5,453 shares of the wireless technology company's stock valued at $838,000 after acquiring an additional 123 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in shares of QUALCOMM by 8.8% in the 4th quarter. Citizens Financial Group Inc. RI now owns 41,148 shares of the wireless technology company's stock valued at $6,321,000 after acquiring an additional 3,322 shares during the period. Institutional investors and hedge funds 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.