QUALCOMM (NASDAQ:QCOM) Trading Up 2.8% – Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded up 2.8% during mid-day trading on Monday . The company traded as high as $163.20 and last traded at $162.23. 2,054,787 shares were traded during trading, a decline of 51% from the average session volume of 4,221,835 shares. The stock had previously closed at $157.83.

Analyst Upgrades and Downgrades

A number of research firms have commented on QCOM. Sanford C. Bernstein upped their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The business’s fifty day moving average price is $160.08 and its 200-day moving average price is $170.80. The stock has a market cap of $176.74 billion, a PE ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 1.25.

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

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of QCOM. Farmers Trust Co. lifted its position 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 valued at $482,000 after acquiring an additional 201 shares in the last quarter. Innova Wealth Partners lifted its holdings 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 purchasing an additional 89 shares in the last quarter. Range Financial Group LLC boosted its stake in QUALCOMM by 306.5% in the 4th quarter. Range Financial Group LLC now owns 5,727 shares of the wireless technology company’s stock worth $880,000 after purchasing 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 approximately $455,000. Finally, Regent Peak Wealth Advisors LLC raised its position in shares of QUALCOMM by 3.4% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,058 shares of the wireless technology company’s stock valued at $316,000 after buying an additional 68 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.