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

Qualcomm (NASDAQ:QCOM) had its price target dropped by UBS Group from $185.00 to $180.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the wireless technology company’s stock. UBS Group‘s target price would indicate a potential upside of 8.82% from the company’s previous close.

A number of other brokerages have also recently weighed in on QCOM. Cantor Fitzgerald dropped their price objective on Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Susquehanna reduced their price objective on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Research downgraded shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Arete Research raised Qualcomm to a “strong-buy” rating in a report on Friday, October 16th. Finally, Oppenheimer set a $200.00 price target on Qualcomm in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $197.55.

Qualcomm Trading Up 5.5%

QCOM traded up $8.66 during trading hours on Thursday, reaching $165.41. The company’s stock had a trading volume of 19,678,727 shares, compared to its average volume of 10,479,039. The stock has a market cap of $176.63 billion, a PE ratio of 13.02, a P/E/G ratio of 3.65 and a beta of 1.70. Qualcomm has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. 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 business’s 50-day moving average is $178.11 and its 200-day moving average is $169.52.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 earnings per share. As a group, equities research analysts predict that Qualcomm will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Qualcomm

In related news, CAO Patricia Grech sold 625 shares of the company’s stock in a transaction on Friday, August 21st. The shares were 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 owned 208 shares in the company, valued at $33,872.80. This represents a 75.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the transaction, the executive vice president directly owned 18,184 shares in the company, valued at $3,324,944.40. The trade was a 12.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 31,820 shares of company stock valued at $5,980,217. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Qualcomm

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Your Advocates Ltd. LLP purchased a new position in Qualcomm in the first quarter worth $26,000. ABS Investment Management LLC purchased a new stake in shares of Qualcomm during the second quarter worth about $34,000. ABS Direct Equity Fund LLC purchased a new position in shares of Qualcomm during the second quarter valued at approximately $34,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Qualcomm during the third quarter valued at approximately $35,000. Finally, Team Financial Group LLC acquired a new stake in Qualcomm during the third quarter worth approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

About Qualcomm

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.