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

by · The Markets Daily

QUALCOMM (NASDAQ:QCOM – Free Report) had its target price cut by Cantor Fitzgerald from $215.00 to $160.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the wireless technology company’s stock.

QCOM has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set an overweight rating on the stock in a research note on Tuesday, September 17th. Susquehanna boosted their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a positive rating in a research note on Wednesday, July 17th. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Westpark Capital reiterated a hold rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the company an outperform rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of Moderate Buy and a consensus price target of $209.38.

Check Out Our Latest Stock Analysis on QCOM

QUALCOMM Trading Down 1.0 %

Shares of QUALCOMM stock opened at $168.52 on Tuesday. The firm has a 50-day simple moving average of $167.54 and a two-hundred day simple moving average of $182.06. The company has a market cap of $188.07 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. QUALCOMM has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts predict that QUALCOMM will post 8.02 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,245 shares of company stock worth $3,679,407. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter worth $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in QUALCOMM during the 1st quarter worth $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

(Get Free Report)

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.

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