QUALCOMM (NASDAQ:QCOM) PT Raised to $270.00 at Tigress Financial

QUALCOMM (NASDAQ:QCOM) had its target price boosted by equities researchers at Tigress Financial from $238.00 to $270.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the wireless technology company’s stock. Tigress Financial’s target price would indicate a potential upside of 27.04% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Mizuho raised their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. TD Cowen increased their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Argus increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $212.53 on Friday. The company has a market cap of $237.18 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. The company’s fifty day moving average is $192.36 and its two-hundred day moving average is $167.17. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts expect that QUALCOMM will post 7.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of the company’s 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 directly owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.