TD Cowen Has Lowered Expectations for Qualcomm (NASDAQ:QCOM) Stock Price

Qualcomm (NASDAQ:QCOM) had its price objective reduced by equities researchers at TD Cowen from $200.00 to $185.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the wireless technology company’s stock. TD Cowen‘s price target would suggest a potential upside of 11.84% from the stock’s current price.

A number of other equities analysts also recently commented on QCOM. Weiss Ratings restated a “hold (c)” rating on shares of Qualcomm in a report on Monday, September 21st. Benchmark cut their price objective on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Oppenheimer set a $200.00 target price on shares of Qualcomm in a research note on Monday, July 27th. Evercore set a $159.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald decreased their target price on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $197.55.

Qualcomm Stock Up 5.5%

NASDAQ QCOM traded up $8.66 on Thursday, reaching $165.41. The stock had a trading volume of 19,678,727 shares, compared to its average volume of 10,479,039. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm has a 1 year low of $121.99 and a 1 year high of $259.92. The business has a 50 day moving average price of $178.11 and a 200 day moving average price of $169.52. The company has a market capitalization of $176.63 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 3.65 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping 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 company had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same period last year, the business earned $3.00 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Qualcomm will post 7.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the completion of the sale, the executive vice president owned 18,184 shares of the company’s stock, valued at $3,324,944.40. This represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann C. Chaplin sold 1,827 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the transaction, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their position. 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 sold a total of 31,820 shares of company stock valued at $5,980,217 over the last 90 days. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Qualcomm

A number of institutional investors have recently modified their holdings of QCOM. BlackRock Inc. bought a new stake in shares of Qualcomm during the 2nd quarter worth $17,583,115,000. Bank of New York Mellon Corp acquired a new position in Qualcomm in the 2nd quarter valued at $1,523,930,000. Deutsche Bank AG acquired a new position in Qualcomm in the 2nd quarter valued at $1,178,349,000. Amundi raised its holdings in Qualcomm by 94.1% in the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after acquiring an additional 4,942,908 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Qualcomm by 22.7% in the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after acquiring an additional 3,179,720 shares during the period. Institutional investors own 74.35% of the company’s stock.

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

About Qualcomm

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.