QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shot up 1.2% during trading on Wednesday . The stock traded as high as $127.66 and last traded at $126.15. 2,080,104 shares traded hands during trading, a decline of 76% from the average session volume of 8,735,220 shares. The stock had previously closed at $124.66.
Wall Street Analyst Weigh In
QCOM has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $201.21.
View Our Latest Research Report on QUALCOMM
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QUALCOMM Price Performance
The company has a market cap of $154.01 billion, a PE ratio of 14.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock's 50-day moving average is $156.49 and its 200 day moving average is $161.46.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by company insiders.
Institutional Trading of QUALCOMM
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.
About QUALCOMM
(Get Free Report)
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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