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

QUALCOMM (NASDAQ:QCOM) had its price objective lowered by research analysts at Susquehanna from $230.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the wireless technology company’s stock. Susquehanna’s price objective would suggest a potential upside of 35.12% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup lowered their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock opened at $155.42 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a fifty day moving average of $168.04 and a two-hundred day moving average of $181.75. The company has a market capitalization of $172.67 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28. QUALCOMM has a fifty-two week low of $125.67 and a fifty-two week high of $230.63.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last three months. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $32,000. Planning Capital Management Corp increased its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. 74.35% of the stock is owned by 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.