QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $215.00 at Mizuho

QUALCOMM (NASDAQ:QCOM) had its price objective lowered by Mizuho from $245.00 to $215.00 in a research report released on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the wireless technology company’s stock.

A number of other equities analysts also recently commented on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Up 0.4 %

NASDAQ QCOM opened at $160.52 on Tuesday. QUALCOMM has a one year low of $136.03 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The business has a fifty day moving average price of $160.08 and a 200 day moving average price of $170.80. The company has a market cap of $178.34 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Research analysts anticipate that QUALCOMM will post 9.09 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the period. Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Legal & General Group Plc boosted its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after acquiring an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 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.