Qualcomm (NASDAQ:QCOM – Free Report) had its price objective lowered by Rosenblatt Securities from $235.00 to $205.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the wireless technology company’s stock.
A number of other equities research analysts have also issued reports on QCOM. Piper Sandler reiterated a “neutral” rating on shares of Qualcomm in a report on Thursday. Barclays cut their target price on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating on the stock in a research note on Thursday. Citigroup decreased their price target on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research note on Monday, September 21st. Finally, Cantor Fitzgerald cut their price target on Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $197.55.
Read Our Latest Report on QCOM
Qualcomm Trading Down 9.5%
Shares of QCOM stock opened at $156.75 on Thursday. Qualcomm has a 1-year low of $121.99 and a 1-year high of $259.92. The firm has a market cap of $167.38 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70. The company has a 50-day moving average of $178.09 and a two-hundred day moving average of $169.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 31.91%. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same period in the prior year, the business posted $3.00 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, analysts predict that Qualcomm will post 7.17 EPS for the current year.
Qualcomm Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.3%. Qualcomm’s payout ratio is 42.59%.
Insider Transactions at Qualcomm
In related news, EVP Ann Chaplin sold 1,827 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at $4,503,307.50. This represents a 6.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on 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 represents a 10.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,258 shares of company stock worth $5,727,616 in the last three months. Corporate insiders own 0.05% of the company’s stock.
Institutional Trading of Qualcomm
Several hedge funds have recently made changes to their positions in QCOM. Three Bridge Wealth Advisors LLC purchased a new stake in shares of Qualcomm in the third quarter valued at approximately $47,000. Maryland State Retirement & Pension System increased its holdings in shares of Qualcomm by 13.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 64,768 shares of the wireless technology company’s stock valued at $11,920,000 after purchasing an additional 7,785 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Qualcomm by 3.6% in the third quarter. Ritholtz Wealth Management now owns 24,586 shares of the wireless technology company’s stock valued at $4,525,000 after purchasing an additional 860 shares during the period. UNIVEST FINANCIAL Corp boosted its holdings in Qualcomm by 18.1% during the third quarter. UNIVEST FINANCIAL Corp now owns 2,214 shares of the wireless technology company’s stock worth $407,000 after buying an additional 340 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its position in Qualcomm by 1.4% during the third quarter. Joel Isaacson & Co. LLC now owns 7,380 shares of the wireless technology company’s stock worth $1,358,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.
More Qualcomm News
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Qualcomm reported fiscal Q4 revenue of about $10.44 billion and adjusted EPS of $2.17, slightly exceeding consensus. Automotive revenue grew strongly, and management sees potential for substantial data-center revenue growth. Article: 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. 5G network, a multiyear deal that offers diversification beyond smartphone chips. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
- Neutral Sentiment: Analysts cut price targets following results, though views remain mixed: UBS and JPMorgan moved to neutral, while TD Cowen and Rosenblatt retained buy ratings. The revisions reflect increased caution but still imply potential upside from the cited share price.
- Negative Sentiment: The earnings beat was overshadowed by weaker profit guidance and falling handset-chip demand. Revenue declined year over year, with handset weakness—including reduced Apple-related revenue—contributing to the pressure; memory and component costs may also weigh on margins. Article: Qualcomm slumps as weak smartphone chip sales overshadow data-center momentum
- Negative Sentiment: Investors may also be wary that data-center expansion requires heavy investment and could dilute near-term margins, while automotive and other newer businesses have yet to offset handset weakness fully. Article: Qualcomm’s Data Center Investments Could Weigh on Near-Term Margins, RBC Says
About Qualcomm
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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