Salem Investment Counselors Inc. decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,180 shares of the wireless technology company’s stock after selling 5,300 shares during the period. Salem Investment Counselors Inc.’s holdings in QUALCOMM were worth $6,384,000 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.
QCOM traded up $0.81 on Friday, reaching $79.89. 41,621,184 shares of the company traded hands, compared to its average volume of 23,868,188. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $82.52. The company has a market capitalization of $96.69 billion, a PE ratio of 25.04, a PEG ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The company 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%. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that QUALCOMM, Inc. will post 3.14 earnings per share for the current fiscal year.
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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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