Robert W. Baird Cuts QUALCOMM (NASDAQ:QCOM) Price Target to $216.00

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price objective cut by stock analysts at Robert W. Baird from $250.00 to $216.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the wireless technology company's stock. Robert W. Baird's target price indicates a potential upside of 54.50% from the company's current price.

Several other research analysts also recently weighed in on the company. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. TD Cowen reduced their price target 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. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $193.32.

QUALCOMM Price Performance

Shares of QCOM traded up $4.60 during mid-day trading on Thursday, reaching $139.81. The stock had a trading volume of 13,180,073 shares, compared to its average volume of 8,888,774. The firm has a market cap of $154.63 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM has a 12 month low of $120.80 and a 12 month high of $230.63. The business has a fifty day moving average of $147.74 and a 200 day moving average of $158.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,266 shares of company stock valued at $5,267,436. Insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QCOM. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after buying an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. lifted its position in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $240,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Company Profile

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.