Qualcomm (NASDAQ:QCOM – Get Free Report) had its price objective cut by research analysts at UBS Group from $185.00 to $180.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the wireless technology company’s stock. UBS Group‘s target price indicates a potential upside of 14.83% from the company’s previous close.
A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Morgan Stanley dropped their price target on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of Qualcomm from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 9th. Robert W. Baird set a $320.00 price objective on shares of Qualcomm in a report on Thursday. Finally, Oppenheimer set a $200.00 price objective on shares of Qualcomm in a research note on Monday, July 27th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $197.55.
Get Our Latest Stock Analysis on Qualcomm
Qualcomm Stock Performance
Qualcomm (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. As a group, sell-side analysts expect that Qualcomm will post 7.71 EPS for the current year.
Insider Buying and Selling at Qualcomm
In other news, EVP Akash Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total transaction of $437,650.00. Following the completion of the transaction, the executive vice president owned 20,799 shares in the company, valued at approximately $3,641,072.94. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of Qualcomm stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares in the company, valued at $4,503,307.50. This represents a 6.62% 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 a total of 30,258 shares of company stock valued at $5,727,616 over the last 90 days. Insiders own 0.05% of the company’s stock.
Institutional Trading of Qualcomm
Several institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Maryland State Retirement & Pension System increased its position in shares of Qualcomm by 13.7% in the third quarter. Maryland State Retirement & Pension System now owns 64,768 shares of the wireless technology company’s stock worth $11,920,000 after acquiring an additional 7,785 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Qualcomm by 3.6% in the 3rd quarter. Ritholtz Wealth Management now owns 24,586 shares of the wireless technology company’s stock valued at $4,525,000 after acquiring an additional 860 shares in the last quarter. UNIVEST FINANCIAL Corp lifted its position in shares of Qualcomm by 18.1% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 2,214 shares of the wireless technology company’s stock valued at $407,000 after acquiring an additional 340 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in Qualcomm by 1.4% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 7,380 shares of the wireless technology company’s stock worth $1,358,000 after purchasing an additional 100 shares during the period. Finally, Jefferies Financial Group Inc. boosted its stake in Qualcomm by 1,650.5% in the 3rd quarter. Jefferies Financial Group Inc. now owns 319,824 shares of the wireless technology company’s stock worth $58,860,000 after purchasing an additional 301,554 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Qualcomm
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Qualcomm reported fiscal Q4 adjusted earnings of $2.17 per share and revenue of about $10.44 billion, both slightly above analyst expectations. Automotive revenue surged about 89%, highlighting growth beyond phones. QCOM Q4 Earnings Beat Estimates on Robust Automotive Growth
- Positive Sentiment: SpaceX selected Qualcomm’s Dragonwing platforms and software for Starlink Mobile’s planned U.S. terrestrial 5G network, a multiyear opportunity Qualcomm called its largest 5G initiative to date. SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
- Positive Sentiment: Management sees data-center expansion as a longer-term growth driver, targeting $5 billion in fiscal 2027 revenue from the business. However, that growth is still developing and may carry lower margins. QCOM Q4 Earnings Call Highlights Data Center Ramp and Handset Risks
- Negative Sentiment: Soft profit guidance overshadowed the beat. Handset weakness—including declining Apple-related sales—and a reported 26% drop in phone-chip revenue are weighing on the outlook; rising component costs and pressure on chip margins add to concerns. Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Negative Sentiment: Several analysts cut their price targets after results, citing handset-market risk and margin concerns, although some retained Buy ratings. Qualcomm Stock Forecast – Why Analysts Cut Price Targets After Q4 Results
Qualcomm Company Profile
Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.
Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.
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