Qualcomm (NASDAQ:QCOM) Stock Price Target Cut by Rosenblatt Securities

Qualcomm (NASDAQ:QCOM) had its target price decreased by research analysts at Rosenblatt Securities from $235.00 to $205.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the wireless technology company’s stock. Rosenblatt Securities‘s price objective would suggest a potential upside of 23.93% from the company’s previous close.

Several other equities analysts have also recently commented on QCOM. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research note on Monday, September 21st. Freedom Capital upgraded shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted 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. TD Cowen upped their price target on shares of Qualcomm from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, October 19th. Finally, Zacks Research downgraded shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $197.55.

Qualcomm Stock Up 5.5%

Shares of NASDAQ QCOM traded up $8.66 during midday trading on Thursday, reaching $165.41. 19,678,727 shares of the company’s stock were exchanged, compared to its average volume of 10,479,039. Qualcomm has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market capitalization of $176.63 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 3.65 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The business’s fifty day moving average price is $178.11 and its two-hundred day moving average price is $169.52.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the prior year, the business posted $3.00 earnings per share. Qualcomm’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts forecast that Qualcomm will post 7.16 EPS for the current year.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, CAO Patricia Grech sold 625 shares of the business’s stock in a transaction on Friday, August 21st. The shares were 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 in the company, valued at $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the stock in a transaction 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 sale, the executive vice president directly owned 25,770 shares in the company, valued at $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 31,820 shares of company stock worth $5,980,217. Company insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Advisory LLC lifted its stake in Qualcomm by 7.8% in the third quarter. Cornerstone Advisory LLC now owns 2,259 shares of the wireless technology company’s stock valued at $416,000 after buying an additional 163 shares during the last quarter. Diversified Trust Co grew its position in shares of Qualcomm by 72.1% during the third quarter. Diversified Trust Co now owns 63,701 shares of the wireless technology company’s stock worth $11,723,000 after acquiring an additional 26,679 shares during the last quarter. Vista Capital Partners Inc. bought a new position in shares of Qualcomm during the third quarter worth about $228,000. Compass Capital Management Inc. increased its holdings in shares of Qualcomm by 12.1% in the 3rd quarter. Compass Capital Management Inc. now owns 300,803 shares of the wireless technology company’s stock worth $55,360,000 after acquiring an additional 32,482 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in shares of Qualcomm by 4.1% in the 3rd quarter. Valmark Advisers Inc. now owns 3,414 shares of the wireless technology company’s stock worth $628,000 after acquiring an additional 134 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’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.