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

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Price 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’s 50-day moving average price is $159.67 and its 200 day moving average price is $169.92. The firm has a market cap of $174.30 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

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

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of QCOM. Eastern Bank boosted its stake in QUALCOMM by 15.6% in the fourth quarter. Eastern Bank now owns 11,171 shares of the wireless technology company’s stock worth $1,716,000 after purchasing an additional 1,504 shares in the last quarter. Claro Advisors LLC lifted its position in QUALCOMM by 3.8% during the 4th quarter. Claro Advisors LLC now owns 7,285 shares of the wireless technology company’s stock worth $1,119,000 after buying an additional 267 shares in the last quarter. Wedmont Private Capital grew its holdings in QUALCOMM by 8.0% during the 4th quarter. Wedmont Private Capital now owns 11,827 shares of the wireless technology company’s stock worth $1,857,000 after acquiring an additional 881 shares during the last quarter. Westmount Partners LLC grew its holdings in QUALCOMM by 16.9% during the 4th quarter. Westmount Partners LLC now owns 10,045 shares of the wireless technology company’s stock worth $1,543,000 after acquiring an additional 1,450 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in shares of QUALCOMM by 12.6% in the fourth quarter. CHICAGO TRUST Co NA now owns 8,921 shares of the wireless technology company’s stock worth $1,370,000 after acquiring an additional 997 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.