QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.1% Following Analyst Downgrade

QUALCOMM Incorporated (NASDAQ:QCOM) shares fell 1.1% during trading on Wednesday after Mizuho lowered their price target on the stock from $245.00 to $215.00. Mizuho currently has an outperform rating on the stock. QUALCOMM traded as low as $156.94 and last traded at $158.68. 1,383,218 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,892,604 shares. The stock had previously closed at $160.52.

Several other brokerages have also issued reports on QCOM. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of institutional investors have recently bought and sold shares of QCOM. Farmers Trust Co. raised its holdings in shares of QUALCOMM by 6.8% in the fourth quarter. Farmers Trust Co. now owns 3,136 shares of the wireless technology company’s stock worth $482,000 after buying an additional 201 shares during the last quarter. Innova Wealth Partners raised its stake in QUALCOMM by 6.5% in the 4th quarter. Innova Wealth Partners now owns 1,461 shares of the wireless technology company’s stock worth $225,000 after acquiring an additional 89 shares during the last quarter. Range Financial Group LLC lifted its position in QUALCOMM by 306.5% during the 4th quarter. Range Financial Group LLC now owns 5,727 shares of the wireless technology company’s stock worth $880,000 after acquiring an additional 4,318 shares during the period. One Wealth Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at about $455,000. Finally, Regent Peak Wealth Advisors LLC grew its stake in QUALCOMM by 3.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,058 shares of the wireless technology company’s stock valued at $316,000 after purchasing an additional 68 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $176.74 billion, a PE ratio of 17.70, a PEG ratio of 2.65 and a beta of 1.25. The firm has a 50 day moving average price of $159.84 and a 200-day moving average price of $170.64.

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

QUALCOMM Company Profile

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.