Flagship Harbor Advisors LLC Raises Position in QUALCOMM, Inc. (QCOM)

Flagship Harbor Advisors LLC raised its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 109.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,987 shares of the wireless technology company’s stock after purchasing an additional 4,700 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in QUALCOMM were worth $512,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lavaca Capital LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $25,000. Csenge Advisory Group purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. lifted its position in shares of QUALCOMM by 688.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 537 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $36,000. Finally, Pearl River Capital LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

QCOM has been the subject of a number of research analyst reports. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Friday, January 18th. Raymond James set a $65.00 target price on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Saturday, February 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Bank of America reiterated a “neutral” rating and issued a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $65.95.

QUALCOMM stock opened at $70.45 on Wednesday. The firm has a market cap of $69.21 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.22. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. QUALCOMM, Inc. has a 1-year low of $48.56 and a 1-year high of $76.50.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. QUALCOMM’s revenue for the quarter was down 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts expect that QUALCOMM, Inc. will post 3.21 EPS for the current year.

In other news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the transaction, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

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QUALCOMM Company Profile

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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