QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.4% – Here’s Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) were down 0.4% during trading on Monday . The company traded as low as $154.80 and last traded at $156.37. Approximately 1,314,002 shares changed hands during trading, a decline of 79% from the average daily volume of 6,167,121 shares. The stock had previously closed at $156.98.

Wall Street Analyst Weigh In

Several research firms have weighed in on QCOM. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Price Performance

The firm’s 50-day moving average is $159.38 and its 200-day moving average is $169.37. 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 company has a market capitalization of $182.66 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Equities analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $1,626,000. HB Wealth Management LLC grew its stake in shares of QUALCOMM by 17.3% in the fourth quarter. HB Wealth Management LLC now owns 31,426 shares of the wireless technology company’s stock worth $4,828,000 after purchasing an additional 4,626 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its holdings in QUALCOMM by 135.5% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 58,495 shares of the wireless technology company’s stock valued at $8,986,000 after purchasing an additional 33,652 shares during the period. Verity & Verity LLC raised its position in QUALCOMM by 7.8% during the 4th quarter. Verity & Verity LLC now owns 57,444 shares of the wireless technology company’s stock valued at $8,825,000 after purchasing an additional 4,168 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $227,000. Hedge funds and other 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.