QUALCOMM (NASDAQ:QCOM) Given New $185.00 Price Target at Barclays

QUALCOMM (NASDAQ:QCOM) had its target price reduced by investment analysts at Barclays from $200.00 to $185.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the wireless technology company’s stock. Barclays‘s target price would indicate a potential upside of 14.60% from the company’s previous close.

QCOM has been the topic of a number of other research reports. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Price Performance

QCOM stock opened at $161.43 on Friday. The company’s 50-day moving average price is $159.21 and its two-hundred day moving average price is $169.34. QUALCOMM has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $179.35 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.63 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 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, analysts anticipate that QUALCOMM will post 9.09 earnings per share for the current fiscal year.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The shares were 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 $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QCOM. State Street Corp raised its position in QUALCOMM by 1.7% in 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 buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 7.9% during 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 purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc grew its position in 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 purchasing an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 buying an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. 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.