Susquehanna Issues Pessimistic Forecast for Qualcomm (NASDAQ:QCOM) Stock Price

Key Points

• Susquehanna lowered Qualcomm’s price target from $190 to $160 and maintained a “neutral” rating, implying roughly 6% upside from the reported $150.97 share price. The broader analyst consensus is “Hold,” with a target price of $208.97.
• Qualcomm’s latest quarterly revenue of $9.95 billion exceeded estimates, supported by automotive and IoT growth, but EPS slightly missed expectations at $2.21 and revenue fell 4% year over year.
• Near-term risks include weaker Apple-related demand, higher memory costs, margin pressure and competition from custom-designed chips. However, record automotive growth, a long-term BMW supply agreement and expansion into AI and data centers provide potential longer-term catalysts.

Qualcomm (NASDAQ:QCOM - Get Free Report) had its price objective decreased by research analysts at Susquehanna from $190.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the wireless technology company's stock. Susquehanna's price target would suggest a potential upside of 5.98% from the company's current price.

A number of other research analysts have also issued reports on the stock. Guggenheim set a $200.00 price objective on shares of Qualcomm in a report on Monday, June 22nd. BNP Paribas Exane downgraded Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Lake Street Capital lowered shares of Qualcomm to a "hold" rating in a report on Thursday, June 25th. Cantor Fitzgerald cut their price target on Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Morgan Stanley reduced their price target on shares of Qualcomm from $231.00 to $220.00 and set an "equal weight" rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty-one have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $208.97.

Qualcomm Price Performance

Shares of Qualcomm stock traded down $4.71 during trading on Thursday, reaching $150.97. 15,679,552 shares of the company's stock were exchanged, compared to its average volume of 16,545,898. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. Qualcomm has a 1-year low of $121.99 and a 1-year high of $259.92. The company has a market cap of $159.12 billion, a P/E ratio of 16.40, a PEG ratio of 4.84 and a beta of 1.63. The firm's 50-day moving average price is $201.26 and its 200 day moving average price is $167.94.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, research analysts anticipate that Qualcomm will post 7.98 earnings per share for the current year.

Insider Transactions at Qualcomm

In other news, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $180.00, for a total transaction of $1,800,000.00. Following the sale, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. The trade was a 4.82% 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 have sold a total of 21,529 shares of company stock worth $4,011,441 in the last ninety days. Company insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Qualcomm

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Rosenberg Matthew Hamilton increased its holdings in shares of Qualcomm by 5.8% in the second quarter. Rosenberg Matthew Hamilton now owns 1,899 shares of the wireless technology company's stock worth $351,000 after purchasing an additional 104 shares during the period. Pachira Investments Inc. purchased a new stake in shares of Qualcomm in the 2nd quarter valued at about $201,000. Cypress Point Wealth Management LLC bought a new stake in shares of Qualcomm during the 2nd quarter valued at about $314,000. Farther Finance Advisors LLC grew its holdings in shares of Qualcomm by 4.2% during the second quarter. Farther Finance Advisors LLC now owns 84,539 shares of the wireless technology company's stock worth $15,627,000 after purchasing an additional 3,418 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Qualcomm by 3.8% in the second quarter. Ballentine Partners LLC now owns 30,077 shares of the wireless technology company's stock worth $5,558,000 after purchasing an additional 1,098 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reported fiscal third-quarter revenue of $9.95 billion, above the $9.69 billion analyst consensus, as automotive and IoT growth helped offset weakness in handsets. Qualcomm Misses Q3 Earnings Estimates, Revenues Beat on Auto Growth
• Positive Sentiment: Record automotive revenue prompted Qualcomm to raise its automotive outlook to approximately $7 billion, while the company is targeting $40 billion in non-handset revenue by fiscal 2029 through automotive, AI, IoT and data-center expansion. Qualcomm Q3 2026 Earnings Call Highlights
• Positive Sentiment: Qualcomm secured a long-term agreement to supply BMW’s digital-cockpit and advanced driver-assistance systems through the next decade, strengthening the company’s automotive growth outlook. Qualcomm wins BMW chip supply deal
• Positive Sentiment: The completed acquisition of AI software company Modular is intended to improve Qualcomm’s ability to support generative and agentic AI workloads from edge devices to data centers. Qualcomm Completes Acquisition of Modular
• Neutral Sentiment: TD Cowen, Rosenblatt Securities and Morgan Stanley all reduced their QCOM price targets, but TD Cowen and Rosenblatt retained buy ratings while Morgan Stanley maintained an equal-weight rating. The revised targets remain above the current share price.
• Negative Sentiment: Adjusted fiscal-third-quarter EPS was $2.21, narrowly below estimates of roughly $2.22–$2.23 and down from $2.77 a year earlier; revenue declined 4% year over year. Qualcomm shares slip as profit outlook falls short
• Negative Sentiment: Fiscal-fourth-quarter EPS guidance of $2.05–$2.25 was below the $2.23 consensus midpoint, while Qualcomm warned that higher memory costs and a sharper decline in Apple-related revenue could pressure margins and near-term profits. Qualcomm shares slide as higher costs and Apple weakness cloud profit forecast
• Negative Sentiment: RBC Capital Markets highlighted ongoing margin pressure and the risk that customers increasingly use custom-designed silicon, potentially limiting Qualcomm’s pricing power and long-term chip demand. Qualcomm Facing Margin Pressures, Custom Silicon Risks

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

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