Qualcomm (QCOM) Receives a Rating Update from a Top Analyst

Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Qualcomm (QCOMResearch Report) yesterday and set a price target of $115.00. The company’s shares closed last Monday at $90.56, close to its 52-week high of $94.11.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 19.7% and a 67.9% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Sequans Communications S A, and Digi International.

Currently, the analyst consensus on Qualcomm is a Moderate Buy with an average price target of $97.59.

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Qualcomm’s market cap is currently $103.4B and has a P/E ratio of 25.24. The company has a Price to Book ratio of 21.12.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QCOM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.