Shares of Qualcomm Inc (NASDAQ:QCOM) were trading under pressure on Thursday, despite the company reporting upbeat quarterly results.
Here are the key analyst insights:
- Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating, while slashing the price target from $225 to $190.
- JPMorgan analyst Samik Chatterjee maintained an Overweight rating, but reduced the price target from $195 to $185.
- BofA Securities analyst Tal Liani downgraded the rating from Buy to Neutral, and lowered the price target from $215 to $155.
Check out other analyst stock ratings.
Rosenblatt Securities: Qualcomm reported its fiscal first quarter revenues at $12.25 billion and non-GAAP earnings at $3.50 per share. That’s above the consensus of $12.13 billion and $3.39 per share, Cassidy said in a note. Management’s fiscal second quarter revenue guidance range has a midpoint of $10.6 billion, representing around a 4% year-on-year decline and down 14% sequentially, came below consensus of $11.1 billion, he added.
The midpoint of the …