QUALCOMM Incorporated (NASDAQ:QCOM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $192.96.

A number of analysts have recently weighed in on QCOM shares. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Piper Sandler increased their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Citigroup increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Benchmark reissued a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,552,835 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $297,000. EP Wealth Advisors LLC increased its holdings in QUALCOMM by 2,448.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 73,525 shares of the wireless technology company’s stock worth $8,166,000 after acquiring an additional 70,640 shares in the last quarter. Modera Wealth Management LLC grew its holdings in QUALCOMM by 1.1% during the 3rd quarter. Modera Wealth Management LLC now owns 17,788 shares of the wireless technology company’s stock valued at $1,976,000 after buying an additional 185 shares in the last quarter. American Century Companies Inc. grew its holdings in QUALCOMM by 21.4% during the 3rd quarter. American Century Companies Inc. now owns 548,558 shares of the wireless technology company’s stock valued at $60,923,000 after buying an additional 96,808 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in QUALCOMM by 3.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 63,045 shares of the wireless technology company’s stock valued at $7,002,000 after buying an additional 1,840 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.3 %

NASDAQ:QCOM opened at $202.43 on Wednesday. The firm’s 50-day moving average price is $203.15 and its 200-day moving average price is $173.95. The company has a market capitalization of $225.91 billion, a PE ratio of 27.21, a P/E/G ratio of 2.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts predict that QUALCOMM will post 7.85 EPS for the current fiscal year.

QUALCOMM Company Profile

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.