Qualcomm (NASDAQ:QCOM) Given “Buy” Rating at Rosenblatt Securities

Qualcomm (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They presently have a $190.00 price objective on the wireless technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 8.28% from the company’s current price.

QCOM has been the subject of a number of other reports. Citigroup restated a “neutral” rating on shares of Qualcomm in a research note on Thursday. Cantor Fitzgerald upped their target price on Qualcomm from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America initiated coverage on Qualcomm in a research note on Tuesday, March 10th. They issued an “underperform” rating and a $145.00 target price for the company. Susquehanna reiterated a “neutral” rating and set a $160.00 price objective on shares of Qualcomm in a research note on Thursday. Finally, Daiwa Securities Group lowered Qualcomm from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $159.88.

Qualcomm Stock Performance

Shares of NASDAQ QCOM traded up $19.46 during trading hours on Thursday, reaching $175.46. The stock had a trading volume of 20,640,405 shares, compared to its average volume of 12,089,383. The business’s fifty day moving average is $134.93 and its two-hundred day moving average is $155.16. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.51 and a quick ratio of 1.83. The company has a market cap of $187.22 billion, a price-to-earnings ratio of 36.25 and a beta of 1.28. Qualcomm has a twelve month low of $121.99 and a twelve month high of $205.95.

Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a return on equity of 44.09% and a net margin of 11.96%.Qualcomm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, research analysts expect that Qualcomm will post 8.21 EPS for the current year.

Qualcomm announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 17th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Qualcomm

In other news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $137.00, for a total transaction of $438,400.00. Following the sale, the executive vice president owned 16,393 shares in the company, valued at approximately $2,245,841. This represents a 16.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $130.34, for a total value of $325,850.00. Following the sale, the executive vice president owned 30,684 shares in the company, valued at $3,999,352.56. The trade was a 7.53% 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. Insiders have sold 9,118 shares of company stock worth $1,233,705 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Qualcomm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in Qualcomm in the third quarter worth about $27,000. Richardson Financial Services Inc. increased its position in Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC acquired a new stake in Qualcomm in the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its position in Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 170 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in Qualcomm in the fourth quarter worth about $31,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: CEO said Qualcomm will begin shipping custom data?center chips to a “large hyperscaler” this calendar year, reviving hopes for a material new revenue stream and helping offset concern about near?term weakness. Read More.
• Positive Sentiment: Quarterly results: non?GAAP EPS of $2.65 beat consensus and came at the high end of guidance; revenue was essentially in line (~$10.6B). The beat helped spark the rebound after an early selloff. Read More.
• Positive Sentiment: Short?term upgrade: Summit Insights moved the stock from “hold” to “buy,” supporting demand from some traders. (Upgrade reported in market feeds.)
• Neutral Sentiment: Company filed its earnings release and slide deck on the IR site and held the conference call/transcript that managers used to highlight strategy and product timing. Investors are parsing the slides for cadence of data?center and handset recoveries. Read More.
• Negative Sentiment: Q3 guidance disappointed: Qualcomm guided to $9.2B–$10.0B revenue and $2.10–$2.30 adj. EPS, below Street revenue/consensus EPS — this drove the initial selloff and signals near?term headwinds. Read More.
• Negative Sentiment: Memory supply shortages and weaker handset demand pressured revenue (handset revenue declines noted y/y), limiting near?term visibility for semiconductor customers. Management called the memory crunch the main drag. Read More.
• Negative Sentiment: Analyst estimate moves: some shops trimmed FY estimates (Erste Group among them) and several price targets remain below current levels, highlighting differing views on the timing of the recovery. Read More.
• Negative Sentiment: Volatility: shares initially dropped on the weak guide before rallying on the hyperscaler/data?center comments — expect continued headline?driven swings as the market evaluates execution and timing. Read More.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi?Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.