Kaizen Advisory LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,232 shares of the wireless technology company’s stock after selling 471 shares during the period. Kaizen Advisory LLC’s holdings in QUALCOMM were worth $184,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lavaca Capital LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $25,000. Csenge Advisory Group acquired a new position in QUALCOMM during the 3rd quarter valued at about $28,000. Transamerica Financial Advisors Inc. boosted its stake in QUALCOMM by 688.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares during the period. Brandywine Global Investment Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $36,000. Finally, Pearl River Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $40,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
QCOM has been the subject of a number of research analyst reports. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research note on Friday, January 18th. Mizuho reduced their price target on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, January 31st. UBS Group reiterated a “neutral” rating and issued a $55.00 target price (down from $64.00) on shares of QUALCOMM in a report on Thursday, January 31st. Finally, ValuEngine downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $76.32.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion during 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 quarterly revenue was down 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, research analysts expect that QUALCOMM, Inc. will post 3.14 EPS for the current fiscal year.
In other news, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the transaction, the president now owns 37,614 shares in the company, valued at approximately $2,256,840. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James H. Thompson sold 40,000 shares of the 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 completion of the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
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.
Further Reading: Depreciation
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