TD Cowen Forecasts Strong Price Appreciation for Qualcomm (NASDAQ:QCOM) Stock

Key Points

• TD Cowen raised Qualcomm’s price target from $175 to $200 and maintained a “buy” rating, implying approximately 15.25% upside from the stock’s current price.
• Analyst sentiment remains mixed: Qualcomm has an average “hold” rating and a consensus price target of $204.97, despite three Strong Buy and twelve Buy ratings.
• Qualcomm’s latest quarterly results slightly missed earnings expectations, with EPS of $2.21 versus $2.23 expected, while revenue of $9.95 billion exceeded estimates but declined 4% year over year.

Qualcomm (NASDAQ:QCOM - Get Free Report) had its price target increased by stock analysts at TD Cowen from $175.00 to $200.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the wireless technology company's stock. TD Cowen's price target suggests a potential upside of 15.25% from the stock's current price.

A number of other equities analysts have also issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Qualcomm in a research note on Monday, September 21st. Zacks Research downgraded Qualcomm from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 15th. Benchmark dropped their price target on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. HSBC reissued a "hold" rating on shares of Qualcomm in a report on Wednesday, July 15th. Finally, Oppenheimer set a $200.00 price objective on Qualcomm in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $204.97.

Qualcomm Trading Up 0.8%

Shares of Qualcomm stock opened at $173.53 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm has a 12-month low of $121.99 and a 12-month high of $259.92. The firm has a market capitalization of $185.30 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.88 and a beta of 1.65. The firm's 50 day simple moving average is $175.25 and its two-hundred day simple moving average is $180.01.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The company's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts predict that Qualcomm will post 7.74 EPS for the current year.

Insider Transactions at Qualcomm

In related news, EVP Ann Chaplin sold 1,827 shares of the firm's stock in a transaction on Friday, October 16th. The shares were 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 trade represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,958 shares of company stock valued at $5,760,494. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Qualcomm

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after acquiring an additional 170 shares during the period. ABS Investment Management LLC acquired a new position in Qualcomm in the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC acquired a new position in Qualcomm in the second quarter valued at approximately $34,000. Your Advocates Ltd. LLP acquired a new position in Qualcomm in the first quarter valued at approximately $26,000. Finally, Burk Holdings LLC boosted its position in Qualcomm by 191.7% in the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company's stock worth $39,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Company Profile

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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