Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Qualcomm, Inc. shares valued at $520,480 were sold by Palkhiwala Akash J. on Apr 04 ’24. At $173.49 per share, Palkhiwala Akash J. sold 3,000 shares. The insider’s holdings dropped to 69,343 shares worth approximately $11.19 million following the completion of this transaction.
Also, THOMPSON JAMES H sold 8,000 shares, netting a total of over 1,346,160 in proceeds. Following the sale of shares at $168.27 each, the insider now holds 261,893 shares.
Before that, AMON CRISTIANO R had sold 8,100 shares from its account. In a trade valued at $1,373,760, the President & CEO traded Qualcomm, Inc. shares for $169.60 each. Upon closing the transaction, the insider’s holdings decreased to 8,100 shares, worth approximately $2.62 million.
As published in their initiating research note from Evercore ISI on April 16, 2024, Qualcomm, Inc. [QCOM] has been an In-line and the price target has been revised to $177. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in early February. As of February 01, 2024, Citigroup has decreased its “Buy” rating to a “Neutral” for QCOM. Earlier on January 23, 2024, Cantor Fitzgerald initiated its rating. Their recommendation was “a Neutral” for QCOM stock.
Analyzing QCOM Stock Performance
During the last five days, there has been a drop of approximately -7.82%. Over the course of the year, Qualcomm, Inc. shares have jumped approximately 11.62%. Shares of the company reached a 52-week high of $177.59 on 03/07/24 and a 52-week low of $134.94 on 01/04/24. A 50-day SMA is recorded $164.18, while a 200-day SMA reached $134.03. Nevertheless, trading volume fell to 9.07 million shares from 8.08 million shares the previous day.
Support And Resistance Levels for Qualcomm, Inc. (QCOM)
According to the 24-hour chart, there is a support level at 159.50, which, if violated, would cause prices to drop to 157.56. In the upper region, resistance lies at 163.74. The next price resistance is at 166.04. RSI (Relative Strength Index) is 40.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.84, which suggests the price will decrease in the coming days. Percent R is at 90.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
