Mizuho Has Lowered Expectations for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its target price cut by Mizuho from $245.00 to $215.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the wireless technology company’s stock.

Several other research analysts have also weighed in on QCOM. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $160.52 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market cap of $178.34 billion, a PE ratio of 17.86, a P/E/G ratio of 2.65 and a beta of 1.25. The firm has a 50 day simple moving average of $160.08 and a 200-day simple moving average of $170.80. QUALCOMM has a 1-year low of $136.03 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, equities analysts expect that QUALCOMM will post 9.09 EPS for the current year.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

Hedge funds have recently added to or reduced their stakes in the business. Paulson Wealth Management Inc. raised its stake in shares of QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. Blossom Wealth Management lifted its stake in shares of QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after acquiring an additional 64 shares during the period. Delta Financial Advisors LLC boosted its holdings in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after acquiring an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC increased its stake in shares of QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after acquiring an additional 66 shares during the period. Finally, Gryphon Financial Partners LLC raised its holdings in QUALCOMM by 2.8% during the second quarter. Gryphon Financial Partners LLC now owns 2,489 shares of the wireless technology company’s stock worth $496,000 after purchasing an additional 67 shares in the last quarter. Institutional investors 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.