QUALCOMM (NASDAQ:QCOM) Price Target Cut to $230.00 by Analysts at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its target price dropped by research analysts at Susquehanna from $250.00 to $230.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the wireless technology company’s stock. Susquehanna’s target price indicates a potential upside of 32.81% from the company’s current price.

Several other research firms also recently issued reports on QCOM. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Robert W. Baird upped their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Rosenblatt Securities increased their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Stock Performance

QCOM stock opened at $173.18 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $192.92 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a 50 day moving average of $169.31 and a two-hundred day moving average of $182.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities analysts anticipate that QUALCOMM will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of the business. Fermata Advisors LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $311,000. Community Bank of Raymore grew its holdings in QUALCOMM by 8.1% during the first quarter. Community Bank of Raymore now owns 21,645 shares of the wireless technology company’s stock valued at $3,664,000 after purchasing an additional 1,620 shares during the period. New England Professional Planning Group Inc. acquired a new position in QUALCOMM during the first quarter valued at approximately $220,000. DLK Investment Management LLC grew its holdings in QUALCOMM by 7.4% during the first quarter. DLK Investment Management LLC now owns 24,529 shares of the wireless technology company’s stock valued at $4,153,000 after purchasing an additional 1,691 shares during the period. Finally, Hoxton Planning & Management LLC grew its holdings in QUALCOMM by 5.3% during the first quarter. Hoxton Planning & Management LLC now owns 3,678 shares of the wireless technology company’s stock valued at $623,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.