California State Teachers Retirement System lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,635,426 shares of the wireless technology company’s stock after purchasing an additional 19,329 shares during the period. California State Teachers Retirement System owned about 0.18% of QUALCOMM worth $168,720,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in QUALCOMM by 2.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after buying an additional 498,324 shares during the last quarter. Capital International Investors lifted its holdings in QUALCOMM by 41.8% during the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after buying an additional 6,322,645 shares during the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,243,388 shares of the wireless technology company’s stock worth $1,037,808,000 after buying an additional 498,411 shares during the last quarter. Veritas Asset Management LLP lifted its holdings in QUALCOMM by 68.4% during the 3rd quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after buying an additional 5,453,631 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in QUALCOMM by 4.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,624,300 shares of the wireless technology company’s stock worth $744,188,000 after buying an additional 534,600 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.
Shares of QCOM stock opened at $54.77 on Tuesday. The stock has a market capitalization of $82,500.63, a P/E ratio of 14.49, a P/E/G ratio of 1.73 and a beta of 1.44. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. equities research analysts forecast that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the transaction, the executive vice president now owns 136,482 shares in the company, valued at approximately $8,551,962.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 52,682 shares of company stock worth $3,306,030 in the last 90 days. 0.24% of the stock is currently owned by insiders.
A number of analysts have issued reports on the company. KeyCorp lifted their price target on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Canaccord Genuity lifted their price target on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price target for the company. in a report on Thursday, February 1st. Finally, Deutsche Bank assumed coverage on QUALCOMM in a report on Thursday, March 15th. They set a “hold” rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.82.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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