Evercore ISI Lowers QUALCOMM (NASDAQ:QCOM) Price Target to $157.00

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its target price reduced by analysts at Evercore ISI from $179.00 to $157.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "in-line" rating on the wireless technology company's stock. Evercore ISI's price objective indicates a potential upside of 13.00% from the company's current price.

• Qualcomm's Earnings: 2 Reasons to Buy, 1 to Stay Away

QCOM has been the subject of a number of other research reports. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $193.32.

Read Our Latest Stock Report on QUALCOMM

QUALCOMM Stock Performance

• MarketBeat Week in Review – 04/21 - 04/25

Shares of QCOM stock traded up $3.73 during trading hours on Friday, hitting $138.94. The stock had a trading volume of 1,676,013 shares, compared to its average volume of 8,913,926. The stock's 50 day moving average is $148.16 and its 200 day moving average is $158.76. QUALCOMM has a twelve month low of $120.80 and a twelve month high of $230.63. The firm has a market capitalization of $153.67 billion, a PE ratio of 14.84, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. The company's revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

• Qualcomm’s Range Narrows Ahead of Earnings as Bulls Step In

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Strategies LLC increased its position in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. raised its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc boosted its stake in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after buying an additional 65 shares in the last quarter. 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.

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