JPMorgan Chase & Co. Has Lowered Expectations for Qualcomm (NASDAQ:QCOM) Stock Price

Qualcomm (NASDAQ:QCOM) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $215.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the wireless technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 20.91% from the company’s previous close.

A number of other equities analysts have also recently weighed in on QCOM. Citigroup lowered their price target on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Cantor Fitzgerald decreased their price objective on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Benchmark lowered their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Qualcomm in a research report on Monday, September 21st. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Qualcomm in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Qualcomm has a consensus rating of “Hold” and a consensus price target of $197.55.

Qualcomm Stock Up 5.5%

NASDAQ:QCOM traded up $8.66 during mid-day trading on Thursday, hitting $165.41. The stock had a trading volume of 19,678,727 shares, compared to its average volume of 10,479,039. Qualcomm has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $176.63 billion, a PE ratio of 13.02, a PEG ratio of 3.65 and a beta of 1.70. The stock has a 50-day simple moving average of $178.11 and a two-hundred day simple moving average of $169.52.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results 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 21.01% and a return on equity of 38.36%. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same period last year, the business earned $3.00 EPS. Qualcomm’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Qualcomm will post 7.16 EPS for the current year.

Insider Activity

In other news, CAO Patricia Y. Grech sold 625 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company’s stock, valued at $33,872.80. The trade was a 75.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $182.85, for a total transaction of $457,125.00. Following the completion of the transaction, the executive vice president owned 18,184 shares in the company, valued at $3,324,944.40. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 31,820 shares of company stock worth $5,980,217. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Qualcomm

A number of large investors have recently modified their holdings of QCOM. BlackRock Inc. acquired a new position in shares of Qualcomm in the second quarter worth about $17,583,115,000. State Street Corp grew its stake in Qualcomm by 1.3% during the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock valued at $9,750,123,000 after purchasing an additional 671,537 shares in the last quarter. Van ECK Associates Corp increased its holdings in Qualcomm by 22.7% during 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 purchasing an additional 3,179,720 shares during the last quarter. Amundi increased its holdings in Qualcomm by 94.1% during the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after purchasing an additional 4,942,908 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Qualcomm during the 2nd quarter worth approximately $1,523,930,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Qualcomm News Summary

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.