Victory Capital Management Inc. increased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,626 shares of the wireless technology company’s stock after acquiring an additional 26,375 shares during the period. Victory Capital Management Inc.’s holdings in QUALCOMM were worth $7,342,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in QCOM. FMR LLC boosted its holdings in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares during the period. Veritas Asset Management LLP acquired a new position in shares of QUALCOMM in the second quarter worth about $440,415,000. Capital International Investors boosted its holdings in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after buying an additional 5,671,176 shares during the period. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the second quarter worth about $210,548,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of QUALCOMM by 990.9% in the second quarter. Janus Henderson Group PLC now owns 2,276,683 shares of the wireless technology company’s stock worth $125,717,000 after buying an additional 2,067,991 shares during the period. 76.20% of the stock is currently owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,989 shares of company stock valued at $4,678,794. 0.24% of the stock is currently owned by company insiders.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $65.43 on Friday. The firm has a market capitalization of $96,450.00, a PE ratio of 39.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. equities analysts anticipate that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
Several brokerages have commented on QCOM. Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 target price for the company in a report on Tuesday, January 2nd. BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Finally, Royal Bank of Canada raised their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $66.06.
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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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