QUALCOMM (NASDAQ:QCOM) Trading Down 1.9% – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 1.9% during trading on Monday . The company traded as low as $133.50 and last traded at $134.04. Approximately 1,011,386 shares were traded during trading, a decline of 89% from the average daily volume of 8,847,022 shares. The stock had previously closed at $136.66.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average price target of $201.21.

QUALCOMM Stock Performance

The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $148.23 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business’s 50 day simple moving average is $153.10 and its two-hundred day simple moving average is $160.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $27,000. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth approximately $27,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth $29,000. 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.