QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $210.00 at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $230.00 to $210.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the wireless technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 24.78% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Mizuho upped their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Finally, Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

QUALCOMM Stock Down 0.2 %

Shares of NASDAQ:QCOM opened at $168.30 on Tuesday. QUALCOMM has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market capitalization of $187.82 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.81 and a beta of 1.28. The business has a 50-day moving average price of $173.71 and a 200 day moving average price of $182.05. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts expect that QUALCOMM will post 8 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Legal & General Group Plc lifted its stake in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares during the period. Matrix Capital Management Company LP bought a new position in QUALCOMM during the first quarter worth about $1,171,516,000. Putnam Investments LLC grew its position in shares of QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.