Qualcomm (NASDAQ:QCOM) Stock Price Target Cut by Susquehanna

Qualcomm (NASDAQ:QCOM) had its target price decreased by Susquehanna from $185.00 to $165.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the wireless technology company’s stock. Susquehanna‘s price target points to a potential downside of 0.25% from the stock’s previous close.

A number of other brokerages have also recently commented on QCOM. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Evercore set a $159.00 target price on shares of Qualcomm in a report on Thursday, July 30th. Wells Fargo & Company decreased their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein lowered their price target on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating for the company in a report on Monday. Finally, Cantor Fitzgerald dropped their price target on Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Qualcomm presently has an average rating of “Hold” and an average price target of $197.55.

Qualcomm Price Performance

Shares of NASDAQ QCOM traded up $8.66 during midday trading on Thursday, reaching $165.41. 19,678,727 shares of the stock traded hands, compared to its average volume of 10,479,039. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock has a market capitalization of $176.63 billion, a PE ratio of 13.02, a P/E/G ratio of 3.65 and a beta of 1.70. Qualcomm has a one year low of $121.99 and a one year high of $259.92. The company’s 50 day moving average is $178.11 and its 200 day moving average is $169.52.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. Qualcomm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. On average, equities research analysts anticipate that Qualcomm will post 7.16 earnings per share for the current year.

Insider Activity

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $182.85, for a total value of $457,125.00. Following the completion of the sale, the executive vice president owned 18,184 shares in the company, valued at approximately $3,324,944.40. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the sale, the chief accounting officer owned 208 shares of the company’s stock, valued at $33,872.80. This trade represents a 75.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,820 shares of company stock valued at $5,980,217 over the last ninety days. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Qualcomm

Several hedge funds have recently added to or reduced their stakes in QCOM. ABS Investment Management LLC purchased a new position in shares of Qualcomm during the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Qualcomm in the second quarter worth approximately $34,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Qualcomm in the third quarter worth approximately $35,000. Your Advocates Ltd. LLP purchased a new stake in shares of Qualcomm in the first quarter worth approximately $26,000. Finally, Team Financial Group LLC bought a new stake in shares of Qualcomm during the 3rd quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.