QUALCOMM (NASDAQ:QCOM) Price Target Cut to $160.00 by Analysts at Cantor Fitzgerald

QUALCOMM (NASDAQ:QCOM) had its price objective lowered by Cantor Fitzgerald from $215.00 to $160.00 in a research report released on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the wireless technology company’s stock.

A number of other research analysts also recently weighed in on QCOM. TD Cowen upgraded QUALCOMM to a strong-buy rating in a research note on Monday, September 16th. KeyCorp downgraded QUALCOMM from an overweight rating to a sector weight rating in a research note on Tuesday. Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Wells Fargo & Company lifted their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an underweight rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a hold rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of Moderate Buy and a consensus price target of $209.38.

QUALCOMM Stock Up 0.9 %

NASDAQ:QCOM opened at $169.98 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market cap of $189.70 billion, a PE ratio of 22.85, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a 50-day simple moving average of $167.85 and a 200 day simple moving average of $181.98.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, sell-side analysts expect that QUALCOMM will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Creative Planning grew its position in QUALCOMM by 0.5% during the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after acquiring an additional 2,086 shares during the last quarter. Wesbanco Bank Inc. grew its position in QUALCOMM by 0.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after acquiring an additional 88 shares during the last quarter. CX Institutional grew its position in QUALCOMM by 334.2% during the 3rd quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after acquiring an additional 19,212 shares during the last quarter. Harrington Investments INC grew its position in QUALCOMM by 0.6% during the 3rd quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock worth $3,850,000 after acquiring an additional 130 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

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.