Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. QUALCOMM Incorporated shares valued at $263,647 were sold by CATHEY JAMES J on Sep 15. At $126.51 per share, CATHEY JAMES J sold 2,084 shares. The insider’s holdings dropped to 917 shares worth approximately $0.11 million following the completion of this transaction.
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Also, POLEK ERIN L sold 70 shares, netting a total of over 10,198 in proceeds. Following the sale of shares at $145.68 each, the insider now holds 0 shares.
Before that, POLEK ERIN L had sold 1,521 shares from its account. In a trade valued at $197,654, the SVP, Controller & CAO traded QUALCOMM Incorporated shares for $129.95 each. Upon closing the transaction, the insider’s holdings decreased to 1,521 shares, worth approximately $0.0.
As published in a research note from DZ Bank on July 29, 2022, QUALCOMM Incorporated [QCOM] has been rated down from a Buy to a Hold and the price target has been revised to $150. This represents a 16.92% premium over Wednesday’s closing price. Analysts at Edward Jones upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of July 15, 2022, Edward Jones has increased its “Hold” rating to a “Buy” for QCOM. Earlier on April 18, 2022, SMBC Nikko downgraded its rating. Their new recommendation was “a Neutral” for QCOM stock which previously was a “an Outperform”.
Analyzing QCOM’s Price Performance
On Wednesday, QUALCOMM Incorporated [NASDAQ: QCOM] plunged -0.12% to $124.62. The stock’s lowest price that day was $124.50, but it reached a high of $129.79 in the same session. During the last five days, there has been a drop of approximately -2.28%. Over the course of the year, QUALCOMM Incorporated shares have dropped approximately -31.85%. Shares of the company reached a 52-week high of $193.58 on 01/05/22 and a 52-week low of $118.22 on 06/23/22. A 50-day SMA is recorded $140.99, while a 200-day SMA reached $151.20. Nevertheless, trading volume fell to 8.07 million shares from 5.67 million shares the previous day.
Support And Resistance Levels for QUALCOMM Incorporated (QCOM)
According to the 24-hour chart, there is a support level at 122.82, which, if violated, would cause prices to drop to 121.01. In the upper region, resistance lies at 128.11. The next price resistance is at 131.59. RSI (Relative Strength Index) is 36.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.22, which suggests the price will decrease in the coming days. Percent R is at 85.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is QUALCOMM Incorporated subject to short interest?
Stocks of QUALCOMM Incorporated saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.22 million shares to 16.96 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.18 million shares. A decline of -13.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) decline to 1.67.
Which companies own the most shares of QUALCOMM Incorporated (QCOM)?
According to The Vanguard Group, Inc. filings, the company currently owns 102,322,912 shares, which is about 9.11% of the total QCOM shares outstanding. The investor’s shares have appreciated by 1,294,027 from its previous 13-F filing of 101028885.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $7,241,000,520. SSgA Funds Management, Inc. reduced a -2.28% interest valued at $6.22 billion while Fidelity Management & Research Co sold a -1,483,745 stake. A total of 523,076 shares of QUALCOMM Incorporated were sold by AllianceBernstein LP during the quarter, and 557,319 were bought by Geode Capital Management LLC. In its current portfolio, T. Rowe Price Associates, Inc. holds 18,079,136 shares valued at $2.39 billion.
In terms of QUALCOMM Incorporated share price expectations, FactSet research, analysts set an average price target of $182.11 in the next 12 months, up nearly 44.27% from the previous closing price of $124.77. Analysts anticipate QUALCOMM Incorporated stock to reach $250.00 by 2022, with the lowest price target being $130.00. In spite of this, 32 analysts ranked QUALCOMM Incorporated stock as an Overweight at the end of 2022. On February 03, 2022, Raymond James assigned a price target of “a Strong buy” to the stock and reiterated coverage with a $222.