QUALCOMM (NASDAQ:QCOM) Shares Up 0.2% – Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) was up 0.2% during trading on Tuesday . The company traded as high as $140.84 and last traded at $139.48. Approximately 1,238,775 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 8,843,760 shares. The stock had previously closed at $139.19.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Finally, TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $201.21.

QUALCOMM Stock Performance

The stock has a market cap of $150.13 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a fifty day moving average of $154.50 and a 200-day moving average of $160.83. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 648 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now directly owns 56,445 shares of the company’s stock, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock valued at $5,047,052 over the last three months. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently modified their holdings of QCOM. Te Ahumairangi Investment Management Ltd grew its stake in shares of QUALCOMM by 60.9% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock valued at $6,349,000 after buying an additional 14,213 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of QUALCOMM by 2.2% during the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock valued at $5,901,000 after purchasing an additional 747 shares during the period. World Investment Advisors LLC boosted its stake in shares of QUALCOMM by 304.0% in the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company’s stock valued at $7,680,000 after purchasing an additional 33,985 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in QUALCOMM by 620.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock valued at $9,466,000 after purchasing an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its stake in QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock worth $2,309,000 after buying an additional 531 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.