QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $155.00 at Loop Capital

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price target dropped by investment analysts at Loop Capital from $180.00 to $155.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the wireless technology company's stock. Loop Capital's price objective suggests a potential upside of 14.64% from the stock's current price.

Several other equities analysts also recently commented on QCOM. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday. Finally, Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average target price of $194.11.

QUALCOMM Trading Down 8.9 %

NASDAQ QCOM traded down $13.25 on Thursday, reaching $135.21. The stock had a trading volume of 22,792,863 shares, compared to its average volume of 8,956,154. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $148.68 and a two-hundred day moving average price of $159.06. QUALCOMM has a 12-month low of $120.80 and a 12-month high of $230.63. The firm has a market capitalization of $149.54 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, sell-side analysts forecast that QUALCOMM will post 9.39 EPS for the current fiscal year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last 90 days. Company insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the period. Finally, CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 74.35% of the company's stock.

About QUALCOMM

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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