Qualcomm Incorporated (NASDAQ:QCOM) Stock Has Average Target Price of $197.55

Qualcomm Incorporated (NASDAQ:QCOM) has been assigned a consensus recommendation of “Hold” from the forty research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation, twelve have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $197.13.

A number of brokerages have issued reports on QCOM. Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein cut their price target on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a report on Monday, November 2nd. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Cantor Fitzgerald decreased their price objective on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Rosenblatt Securities lowered their price objective on shares of Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue grew 89% to a record $1.99 billion. Qualcomm also expects non-handset revenue to grow by more than 60% in fiscal 2027, supporting hopes that newer businesses can offset smartphone-market weakness. Article
• Positive Sentiment: ETFs made a net $28.3 million purchase of QCOM shares on Nov. 5, with more funds adding shares than reducing their holdings. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan, retaining 39,379 shares. The planned nature of the sale makes it a less clear signal about the company’s outlook. SEC filing
• Negative Sentiment: Handset revenue fell 26%, and earnings guidance came in below expectations, renewing concerns about pressure in Qualcomm’s core smartphone business. Article
• Negative Sentiment: Freedom Broker cut its rating from “buy” to “hold” and reduced its price target from $200 to $185, signaling less near-term upside in its view. Rating information

Qualcomm Stock Up 3.7%

Shares of NASDAQ QCOM opened at $171.47 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The company has a 50-day moving average price of $178.25 and a 200-day moving average price of $169.60. The stock has a market capitalization of $183.10 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.90 and a beta of 1.70. Qualcomm has a 1 year low of $121.99 and a 1 year high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 31.91% and a net margin of 31.60%. The firm had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same period in the prior year, the business posted $3.00 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Qualcomm will post 7.16 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. Qualcomm’s payout ratio is presently 28.98%.

Insider Activity

In other news, CEO Cristiano Amon sold 10,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 177,568 shares in the company, valued at approximately $35,513,600. This represents a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company’s stock, valued at approximately $33,872.80. This trade represents a 75.03% 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 35,020 shares of company stock worth $6,509,561. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Qualcomm

A number of large investors have recently modified their holdings of the company. BCS Private Wealth Management Inc. grew its position in Qualcomm by 19.3% during the third quarter. BCS Private Wealth Management Inc. now owns 18,879 shares of the wireless technology company’s stock worth $3,474,000 after buying an additional 3,052 shares in the last quarter. Minneapolis Portfolio Management Group LLC grew its position in Qualcomm by 2.2% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 172,166 shares of the wireless technology company’s stock valued at $31,685,000 after acquiring an additional 3,767 shares during the last quarter. Wall Street Financial Group Inc. raised its position in Qualcomm by 2.6% in the 3rd quarter. Wall Street Financial Group Inc. now owns 3,128 shares of the wireless technology company’s stock worth $576,000 after purchasing an additional 78 shares during the period. West Family Investments Inc. increased its holdings in shares of Qualcomm by 28.1% in the third quarter. West Family Investments Inc. now owns 3,944 shares of the wireless technology company’s stock worth $726,000 after buying an additional 864 shares during the period. Finally, Bessemer Group Inc. lifted its position in Qualcomm by 4.3% in the third quarter. Bessemer Group Inc. now owns 708,829 shares of the wireless technology company’s stock valued at $130,453,000 after purchasing an additional 29,515 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.