QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.6% – Time to Buy?

by · The Cerbat Gem

QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) traded up 0.6% during trading on Friday . The company traded as high as $138.15 and last traded at $136.54. 7,093,008 shares were traded during trading, a decline of 20% from the average session volume of 8,884,760 shares. The stock had previously closed at $135.74.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. TD Cowen decreased their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $201.21.

Get Our Latest Stock Report on QCOM

QUALCOMM Trading Up 0.6 %

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 company has a market cap of $151.01 billion, a PE ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average price of $153.81 and a 200 day moving average price of $160.60.

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 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock valued at $5,047,052 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC boosted its holdings in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi lifted its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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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