QUALCOMM (NASDAQ:QCOM) Shares Up 0.2% – Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shares were up 0.2% during trading on Tuesday . The stock traded as high as $140.84 and last traded at $139.48. Approximately 1,238,775 shares traded hands during 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

Several equities research analysts recently issued reports on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus price target of $201.21.

QUALCOMM Trading Down 0.2 %

The firm has a market cap of $153.66 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.01 and a beta of 1.28. The firm’s 50-day moving average is $155.76 and its 200-day moving average is $161.16. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently modified their holdings of QCOM. Rowlandmiller & PARTNERS.ADV grew its holdings in QUALCOMM by 1.9% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 68,211 shares of the wireless technology company’s stock valued at $10,478,000 after purchasing an additional 1,296 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of QUALCOMM by 222.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,385,326 shares of the wireless technology company’s stock worth $212,800,000 after acquiring an additional 956,311 shares during the period. MV Capital Management Inc. increased its holdings in QUALCOMM by 17.5% in the 1st quarter. MV Capital Management Inc. now owns 22,106 shares of the wireless technology company’s stock worth $3,396,000 after acquiring an additional 3,293 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in QUALCOMM by 8.9% in the 1st quarter. Trueblood Wealth Management LLC now owns 11,781 shares of the wireless technology company’s stock worth $1,810,000 after acquiring an additional 964 shares during the last quarter. Finally, Integral Investment Advisors Inc. lifted its holdings in QUALCOMM by 7.1% during the first quarter. Integral Investment Advisors Inc. now owns 9,177 shares of the wireless technology company’s stock valued at $1,410,000 after purchasing an additional 611 shares during the last quarter. Hedge funds and other 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.