QUALCOMM (NASDAQ:QCOM) Trading 1.3% Higher

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.3% during mid-day trading on Friday . The stock traded as high as $203.20 and last traded at $202.46. 1,412,254 shares traded hands during trading, a decline of 85% from the average session volume of 9,121,696 shares. The stock had previously closed at $199.85.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Wolfe Research boosted their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. Barclays raised their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $192.96.

QUALCOMM Price Performance

The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $202.70 and a 200-day moving average of $173.15. The stock has a market capitalization of $229.33 billion, a P/E ratio of 27.21, a PEG ratio of 2.54 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current year.

Insider Activity

In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the stock. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. lifted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the fourth quarter worth approximately $32,000. Cherry Tree Wealth Management LLC increased its holdings in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $35,000. Institutional investors own 74.35% of the company’s stock.

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.