Qualcomm (NASDAQ:QCOM) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered its Qualcomm price target from $215 to $200 and maintained a Neutral rating; the revised target implies 27.6% upside from the prior close.
• Qualcomm shares fell 9.5% on Thursday to $156.75. Analysts overall rate the stock a Hold, with an average price target of $197.21.
• Quarterly earnings and revenue slightly beat estimates, but revenue declined 8.4% year over year and concerns about handset demand, margins, and profit guidance weighed on the outlook.

Qualcomm (NASDAQ:QCOM - Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $215.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the wireless technology company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 27.59% from the company's previous close.

Other analysts also recently issued reports about the stock. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Sanford C. Bernstein decreased their price objective on shares of Qualcomm from $165.00 to $155.00 and set a "market perform" rating for the company in a report on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Qualcomm in a research note on Monday, September 21st. TD Cowen cut their target price on shares of Qualcomm from $200.00 to $185.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Morgan Stanley reduced their price target on shares of Qualcomm from $231.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $197.21.

Qualcomm Trading Down 9.5%

NASDAQ QCOM traded down $16.44 during trading hours on Thursday, hitting $156.75. The company's stock had a trading volume of 40,048,324 shares, compared to its average volume of 15,183,347. Qualcomm has a twelve month low of $121.99 and a twelve month high of $259.92. The firm has a market capitalization of $167.38 billion, a P/E ratio of 18.14, a PEG ratio of 3.70 and a beta of 1.70. 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 stock has a fifty day moving average of $178.23 and a 200 day moving average of $169.48.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same quarter in the prior year, the firm posted $3.00 earnings per share. The company's quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts forecast that Qualcomm will post 7.71 earnings per share for the current fiscal year.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Ann C. Chaplin sold 1,827 shares of the company's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president owned 25,770 shares of the company's stock, valued at $4,503,307.50. This represents a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $182.85, for a total value of $457,125.00. Following the transaction, the executive vice president directly owned 18,184 shares of the company's stock, valued at approximately $3,324,944.40. This trade represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,258 shares of company stock valued at $5,727,616 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in QCOM. Silver Grove Financial Group Inc. boosted its stake in Qualcomm by 8.2% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,498 shares of the wireless technology company's stock valued at $276,000 after purchasing an additional 113 shares during the last quarter. Davis Investment Partners LLC lifted its stake in Qualcomm by 175.9% during the 3rd quarter. Davis Investment Partners LLC now owns 3,959 shares of the wireless technology company's stock valued at $729,000 after acquiring an additional 2,524 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Qualcomm by 3.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 181,832 shares of the wireless technology company's stock worth $33,464,000 after acquiring an additional 5,512 shares during the last quarter. Northbridge Financial Group LLC boosted its holdings in Qualcomm by 3.7% during the 3rd quarter. Northbridge Financial Group LLC now owns 6,481 shares of the wireless technology company's stock worth $1,173,000 after acquiring an additional 233 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in shares of Qualcomm by 33.9% in the 3rd quarter. Confluence Wealth Services Inc. now owns 23,773 shares of the wireless technology company's stock worth $4,375,000 after acquiring an additional 6,016 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reported fiscal Q4 adjusted earnings of $2.17 per share and revenue of about $10.44 billion, both slightly above analyst expectations. Automotive revenue surged about 89%, highlighting growth beyond phones. 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. terrestrial 5G network, a multiyear opportunity Qualcomm called its largest 5G initiative to date. SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Management sees data-center expansion as a longer-term growth driver, targeting $5 billion in fiscal 2027 revenue from the business. However, that growth is still developing and may carry lower margins. QCOM Q4 Earnings Call Highlights Data Center Ramp and Handset Risks
• Negative Sentiment: Soft profit guidance overshadowed the beat. Handset weakness—including declining Apple-related sales—and a reported 26% drop in phone-chip revenue are weighing on the outlook; rising component costs and pressure on chip margins add to concerns. Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
• Negative Sentiment: Several analysts cut their price targets after results, citing handset-market risk and margin concerns, although some retained Buy ratings. Qualcomm Stock Forecast – Why Analysts Cut Price Targets After Q4 Results

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.

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