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

QUALCOMM (NASDAQ:QCOM) had its price objective lowered by equities researchers at Mizuho from $245.00 to $215.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the wireless technology company’s stock. Mizuho’s target price would suggest a potential upside of 35.15% from the company’s current price.

Several other equities research analysts also recently issued reports on QCOM. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Performance

QUALCOMM stock opened at $159.08 on Tuesday. The stock has a fifty day moving average price of $159.91 and a 200 day moving average price 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 52 week low of $136.03 and a 52 week high of $230.63. The firm has a market capitalization of $176.74 billion, a P/E ratio of 17.70, a PEG ratio of 2.65 and a beta of 1.25.

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

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors have recently modified their holdings of the company. Lantz Financial LLC bought a new stake in shares of QUALCOMM during the 2nd quarter worth $234,000. HCR Wealth Advisors increased its position in shares of QUALCOMM by 10.0% in the second quarter. HCR Wealth Advisors now owns 1,385 shares of the wireless technology company’s stock worth $276,000 after acquiring an additional 126 shares in the last quarter. LGT Fund Management Co Ltd. lifted its position in shares of QUALCOMM by 552.1% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 9,130 shares of the wireless technology company’s stock valued at $1,819,000 after acquiring an additional 7,730 shares in the last quarter. Royal London Asset Management Ltd. grew its position in QUALCOMM by 3.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 472,704 shares of the wireless technology company’s stock worth $94,153,000 after purchasing an additional 17,893 shares in the last quarter. Finally, Provident Investment Management Inc. acquired a new stake in QUALCOMM during the 2nd quarter valued at $203,000. Institutional investors and hedge funds 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.