Piper Sandler Lowers QUALCOMM (NASDAQ:QCOM) Price Target to $190.00

QUALCOMM (NASDAQ:QCOMGet Rating) had its price target cut by stock analysts at Piper Sandler from $225.00 to $190.00 in a report released on Thursday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 40.64% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 3rd. Susquehanna Bancshares reissued a “hold” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, February 3rd. Cowen raised their target price on shares of QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 3rd. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Finally, Sanford C. Bernstein raised their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, February 3rd. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Buy” and a consensus price target of $195.12.

QCOM opened at $135.10 on Thursday. The firm’s fifty day moving average is $150.91 and its two-hundred day moving average is $162.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.33 and a current ratio of 1.65. QUALCOMM has a twelve month low of $122.17 and a twelve month high of $193.58. The firm has a market cap of $151.31 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $3.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.53. QUALCOMM had a net margin of 27.71% and a return on equity of 104.90%. During the same quarter in the prior year, the business earned $1.59 earnings per share. Equities analysts forecast that QUALCOMM will post 10.6 EPS for the current fiscal year.

In related news, CFO Akash J. Palkhiwala sold 3,100 shares of QUALCOMM stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $179.83, for a total transaction of $557,473.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its stake in QUALCOMM by 25.5% in the 2nd quarter. Morgan Stanley now owns 12,960,679 shares of the wireless technology company’s stock worth $1,852,471,000 after purchasing an additional 2,630,436 shares in the last quarter. Planning Alternatives Ltd. ADV acquired a new stake in QUALCOMM in the 3rd quarter worth about $682,000. Segall Bryant & Hamill LLC raised its stake in QUALCOMM by 7.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,633 shares of the wireless technology company’s stock worth $1,757,000 after purchasing an additional 946 shares in the last quarter. Financial Advocates Investment Management raised its stake in QUALCOMM by 11.6% in the 3rd quarter. Financial Advocates Investment Management now owns 10,070 shares of the wireless technology company’s stock worth $1,299,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Modera Wealth Management LLC raised its stake in QUALCOMM by 5.3% in the 3rd quarter. Modera Wealth Management LLC now owns 1,979 shares of the wireless technology company’s stock worth $255,000 after purchasing an additional 100 shares in the last quarter. 72.78% of the stock is owned by institutional investors and hedge funds.

About QUALCOMM (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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