Susquehanna Has Lowered Expectations for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM - Get Free Report) had its price objective lowered by analysts at Susquehanna from $230.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "positive" rating on the wireless technology company's stock. Susquehanna's price objective would indicate a potential upside of 36.12% from the stock's current price.

QCOM has been the subject of a number of other research reports. Benchmark reaffirmed a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus price target of $210.15.

QUALCOMM Price Performance

QCOM stock traded down $10.44 during trading on Wednesday, reaching $154.27. The company's stock had a trading volume of 14,454,817 shares, compared to its average volume of 9,027,241. QUALCOMM has a 1 year low of $125.67 and a 1 year high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $171.39 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company's fifty day moving average is $168.23 and its 200-day moving average is $181.93.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of the company. CreativeOne Wealth LLC grew its holdings in shares of QUALCOMM by 52.6% during the 1st quarter. CreativeOne Wealth LLC now owns 5,652 shares of the wireless technology company's stock worth $957,000 after purchasing an additional 1,949 shares in the last quarter. Capital International Inc. CA increased its holdings in shares of QUALCOMM by 13.7% during the first quarter. Capital International Inc. CA now owns 24,474 shares of the wireless technology company's stock valued at $4,143,000 after acquiring an additional 2,942 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of QUALCOMM by 3.6% during the first quarter. Stonebridge Capital Advisors LLC now owns 129,439 shares of the wireless technology company's stock valued at $21,914,000 after acquiring an additional 4,490 shares in the last quarter. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. Finally, Hhlr Advisors LTD. purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $508,000. Institutional investors and hedge funds own 74.35% of the company's stock.

About QUALCOMM

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.