Tiaa Fsb reduced its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 14.4% during the first quarter, HoldingsChannel reports. The firm owned 35,034 shares of the wireless technology company’s stock after selling 5,913 shares during the period. Tiaa Fsb’s holdings in QUALCOMM were worth $1,998,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Mathes Company Inc. grew its position in QUALCOMM by 190.0% during the fourth quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock valued at $495,000 after purchasing an additional 5,700 shares in the last quarter. Epstein & White Financial LLC grew its position in QUALCOMM by 34.4% in the fourth quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock worth $555,000 after acquiring an additional 2,495 shares in the last quarter. Bogart Wealth LLC grew its position in QUALCOMM by 6.1% in the first quarter. Bogart Wealth LLC now owns 10,342 shares of the wireless technology company’s stock worth $589,000 after acquiring an additional 591 shares in the last quarter. First American Bank grew its position in QUALCOMM by 4.5% in the fourth quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock worth $1,552,000 after acquiring an additional 1,166 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in QUALCOMM by 4.8% in the fourth quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after acquiring an additional 778 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.
QCOM has been the subject of several recent research reports. BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Barclays reissued a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho decreased their target price on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 31st. UBS Group reissued a “neutral” rating and issued a $55.00 target price (down from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Finally, ValuEngine downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $70.40.
In other news, EVP James H. Thompson sold 40,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now directly owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by insiders.
Shares of QUALCOMM stock opened at $70.45 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.54 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. The firm has a market capitalization of $69.21 billion, a PE ratio of 22.08, a PEG ratio of 1.81 and a beta of 1.22.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $0.98 earnings per share. QUALCOMM’s revenue for the quarter was down 21.3% on a year-over-year basis. As a group, analysts anticipate that QUALCOMM, Inc. will post 3.21 EPS for the current year.
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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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