Mizuho Has Lowered Expectations for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its price target lowered by equities research analysts at Mizuho from $245.00 to $215.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the wireless technology company’s stock. Mizuho’s price target would suggest a potential upside of 35.15% from the company’s previous close.

Several other equities research analysts have also issued reports on QCOM. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $159.08 on Tuesday. The business has a fifty day simple moving average of $159.91 and a 200 day simple moving average of $170.72. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM has a 1 year low of $136.03 and a 1 year high of $230.63. The firm has a market cap of $176.74 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts predict that QUALCOMM will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QCOM. HWG Holdings LP bought a new position in shares of QUALCOMM in the second quarter worth about $30,000. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in QUALCOMM in the 2nd quarter valued at $42,000. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. 74.35% of the stock is owned by institutional investors.

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.