Veritas Asset Management LLP boosted its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 68.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,429,265 shares of the wireless technology company’s stock after purchasing an additional 5,453,631 shares during the quarter. QUALCOMM comprises about 5.7% of Veritas Asset Management LLP’s holdings, making the stock its 8th biggest holding. Veritas Asset Management LLP owned 0.91% of QUALCOMM worth $696,173,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in QCOM. Ken Stern & Associates Inc. lifted its stake in shares of QUALCOMM by 26.4% in the 3rd quarter. Ken Stern & Associates Inc. now owns 17,760 shares of the wireless technology company’s stock worth $920,000 after purchasing an additional 3,707 shares during the period. State of Wisconsin Investment Board raised its stake in QUALCOMM by 13.7% during the 3rd quarter. State of Wisconsin Investment Board now owns 1,649,658 shares of the wireless technology company’s stock worth $85,518,000 after acquiring an additional 198,726 shares during the period. Stevens Capital Management LP bought a new stake in QUALCOMM during the 3rd quarter worth approximately $5,657,000. OLD Republic International Corp raised its stake in QUALCOMM by 22.1% during the 3rd quarter. OLD Republic International Corp now owns 789,000 shares of the wireless technology company’s stock worth $40,902,000 after acquiring an additional 143,000 shares during the period. Finally, Compass Capital Management Inc. raised its stake in QUALCOMM by 8.8% during the 3rd quarter. Compass Capital Management Inc. now owns 422,910 shares of the wireless technology company’s stock worth $21,924,000 after acquiring an additional 34,161 shares during the period. 76.20% of the stock is currently owned by institutional investors.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,989 shares of company stock valued at $4,678,794. 0.24% of the stock is owned by corporate insiders.
A number of research firms have commented on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, November 27th. Stifel Nicolaus lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their target price for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Royal Bank of Canada lifted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.06.
QUALCOMM, Inc. (NASDAQ QCOM) opened at $65.26 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $96,200.00, a P/E ratio of 39.55, a PEG ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the company posted $1.28 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. research analysts anticipate that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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