QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $179.00 at Evercore ISI

QUALCOMM (NASDAQ:QCOM) had its target price cut by equities research analysts at Evercore ISI from $199.00 to $179.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the wireless technology company’s stock. Evercore ISI’s price objective would indicate a potential upside of 7.05% from the stock’s current price.

Several other brokerages also recently commented on QCOM. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

Shares of QCOM stock traded down $8.65 on Thursday, reaching $167.21. The company had a trading volume of 7,029,255 shares, compared to its average volume of 7,672,223. The stock has a market capitalization of $185.77 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. 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 business’s 50-day moving average is $161.70 and its 200 day moving average is $166.02. QUALCOMM has a one year low of $143.63 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 return on equity of 38.81% and a net margin of 26.03%. Equities research analysts forecast that QUALCOMM will post 9.16 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,981 shares of company stock worth $4,000,870 in the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp boosted its position in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares during the period. 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.