RPG Investment Advisory LLC lifted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 19.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,119 shares of the wireless technology company’s stock after buying an additional 15,879 shares during the quarter. RPG Investment Advisory LLC’s holdings in QUALCOMM were worth $5,653,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in QCOM. Oregon Public Employees Retirement Fund boosted its position in QUALCOMM by 9,505.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after acquiring an additional 33,262,770 shares in the last quarter. Bank of New York Mellon Corp boosted its position in QUALCOMM by 24.1% during the 4th quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after acquiring an additional 5,022,323 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in QUALCOMM by 0.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after acquiring an additional 96,527 shares in the last quarter. Morgan Stanley boosted its position in QUALCOMM by 163.2% during the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after acquiring an additional 11,713,988 shares in the last quarter. Finally, Norges Bank bought a new stake in QUALCOMM during the 4th quarter valued at $736,806,000. 83.70% of the stock is currently owned by institutional investors.
In related news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
Shares of QCOM stock opened at $70.45 on Wednesday. The firm has a market capitalization of $69.21 billion, a P/E ratio of 22.08, a PEG ratio of 1.81 and a beta of 1.22. 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.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm’s quarterly revenue was down 21.3% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
Several analysts have issued reports on QCOM shares. Barclays reaffirmed a “buy” rating and set 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 QUALCOMM and gave the company a “buy” rating in a research report on Saturday, February 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. BidaskClub raised QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Bank of America reaffirmed a “neutral” rating and set a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $70.40.
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.
Featured Article: Compound Annual Growth Rate (CAGR)
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.