QUALCOMM (NASDAQ:QCOM) Trading 0% Higher – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM) rose 0% on Friday . The stock traded as high as $135.75 and last traded at $134.44. Approximately 3,082,856 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 8,838,090 shares. The stock had previously closed at $134.40.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $201.21.

QUALCOMM Stock Up 3.6 %

The firm has a market cap of $154.01 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $156.49 and a two-hundred day simple moving average of $161.46.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $2,058,000. Burney Co. grew its stake in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth about $240,000. 74.35% of the stock is currently owned by 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.