Qualcomm (NASDAQ:QCOM) Stock Price Target Lowered at TD Cowen

Qualcomm (NASDAQ:QCOM) had its target price trimmed by TD Cowen from $200.00 to $185.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

Several other research firms have also issued reports on QCOM. Barclays reduced their price objective on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating for the company in a research note on Thursday. KeyCorp reiterated a “sector weight” rating on shares of Qualcomm in a report on Wednesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of Qualcomm in a research note on Monday, September 21st. Wells Fargo & Company lowered their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Qualcomm from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 9th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $197.55.

Qualcomm Trading Down 9.5%

Shares of NASDAQ:QCOM opened at $156.75 on Thursday. The firm has a market capitalization of $167.38 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70. Qualcomm has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $178.09 and a two-hundred day moving average of $169.47.

Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 31.91% and a net margin of 31.60%. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same period in the prior year, the firm posted $3.00 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts expect that Qualcomm will post 7.17 EPS for the current fiscal year.

Qualcomm Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm’s payout ratio is currently 42.59%.

Insider Buying and Selling at Qualcomm

In related news, CAO Patricia Y. Grech sold 208 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $170.00, for a total value of $35,360.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann C. Chaplin sold 1,827 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. 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 quarter, insiders sold 30,258 shares of company stock worth $5,727,616. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Qualcomm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Qualcomm in the 2nd quarter valued at $17,583,115,000. State Street Corp increased its position in Qualcomm by 1.3% in 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 acquiring an additional 671,537 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Qualcomm by 22.7% during the second 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 in the last quarter. Amundi increased its holdings in shares of Qualcomm by 94.1% in the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after purchasing an additional 4,942,908 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Qualcomm in the second quarter valued at approximately $1,523,930,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reported fiscal Q4 revenue of about $10.44 billion and adjusted EPS of $2.17, slightly exceeding consensus. Automotive revenue grew strongly, and management sees potential for substantial data-center revenue growth. Article: QCOM Q4 Earnings Beat Estimates on Robust Automotive Growth
• Positive Sentiment: SpaceX selected Qualcomm’s Dragonwing platforms and software for Starlink Mobile’s planned U.S. 5G network, a multiyear deal that offers diversification beyond smartphone chips. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Neutral Sentiment: Analysts cut price targets following results, though views remain mixed: UBS and JPMorgan moved to neutral, while TD Cowen and Rosenblatt retained buy ratings. The revisions reflect increased caution but still imply potential upside from the cited share price.
• Negative Sentiment: The earnings beat was overshadowed by weaker profit guidance and falling handset-chip demand. Revenue declined year over year, with handset weakness—including reduced Apple-related revenue—contributing to the pressure; memory and component costs may also weigh on margins. Article: Qualcomm slumps as weak smartphone chip sales overshadow data-center momentum
• Negative Sentiment: Investors may also be wary that data-center expansion requires heavy investment and could dilute near-term margins, while automotive and other newer businesses have yet to offset handset weakness fully. Article: Qualcomm’s Data Center Investments Could Weigh on Near-Term Margins, RBC Says

About Qualcomm

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.