QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $190.00 at Piper Sandler

QUALCOMM (NASDAQ:QCOM) had its target price dropped by Piper Sandler from $205.00 to $190.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the wireless technology company’s stock. Piper Sandler’s target price suggests a potential upside of 8.04% from the company’s current price.

QCOM has been the topic of a number of other reports. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.04.

QUALCOMM Stock Up 1.6 %

QUALCOMM stock opened at $175.86 on Thursday. The firm has a market cap of $195.38 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM has a 52 week low of $142.43 and a 52 week high of $230.63. The business’s 50-day moving average price is $161.70 and its 200 day moving average price is $166.02. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts anticipate that QUALCOMM will post 9.16 earnings per share for the current year.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock worth $4,000,870 over 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 company. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $2,058,000. Burney Co. increased its position in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Hedge funds and other institutional investors 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.