QUALCOMM (NASDAQ:QCOM) Trading 0.7% Higher

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.7% during mid-day trading on Monday . The stock traded as high as $174.27 and last traded at $172.47. 1,464,323 shares traded hands during trading, a decline of 83% from the average session volume of 8,574,565 shares. The stock had previously closed at $171.29.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 0.7 %

The firm has a market cap of $188.14 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The business’s 50 day moving average price is $164.11 and its 200-day moving average price is $142.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current year.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,360 shares of company stock worth $7,184,678. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. grew its position in QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after purchasing an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after purchasing an additional 245,335 shares during the last quarter. Merit Financial Group LLC grew its position in QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after purchasing an additional 555 shares during the last quarter. NewEdge Advisors LLC grew its position in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares during the last quarter. Institutional investors and hedge funds 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.