Susquehanna Has Lowered Expectations for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its price target decreased by research analysts at Susquehanna from $210.00 to $190.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “positive” rating on the wireless technology company’s stock. Susquehanna’s target price points to a potential upside of 35.90% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $192.58.

QUALCOMM Stock Up 3.4 %

Shares of QCOM opened at $139.81 on Thursday. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a 50 day simple moving average of $147.74 and a two-hundred day simple moving average of $158.53. The firm has a market cap of $154.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. On average, analysts forecast that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,266 shares of company stock valued at $5,267,436 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares during the last quarter. CKW Financial Group bought a new position in shares of QUALCOMM during the fourth quarter valued at $27,000. Finally, WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at $27,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.