Fairbanks Capital Management Inc. lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 405,636 shares of the wireless technology company’s stock after selling 241 shares during the period. QUALCOMM makes up about 23.6% of Fairbanks Capital Management Inc.’s portfolio, making the stock its largest position. Fairbanks Capital Management Inc.’s holdings in QUALCOMM were worth $23,133,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Oppenheimer & Co. Inc. increased its position in shares of QUALCOMM by 1.6% in the first quarter. Oppenheimer & Co. Inc. now owns 147,200 shares of the wireless technology company’s stock worth $8,395,000 after purchasing an additional 2,326 shares during the period. Thompson Investment Management Inc. increased its position in shares of QUALCOMM by 8.6% in the first quarter. Thompson Investment Management Inc. now owns 141,779 shares of the wireless technology company’s stock worth $8,086,000 after purchasing an additional 11,178 shares during the period. Gilman Hill Asset Management LLC increased its position in shares of QUALCOMM by 11.3% in the first quarter. Gilman Hill Asset Management LLC now owns 84,924 shares of the wireless technology company’s stock worth $4,843,000 after purchasing an additional 8,608 shares during the period. Paulson Wealth Management Inc. increased its position in shares of QUALCOMM by 3.3% in the first quarter. Paulson Wealth Management Inc. now owns 5,920 shares of the wireless technology company’s stock worth $338,000 after purchasing an additional 191 shares during the period. Finally, Baldwin Brothers Inc. MA bought a new position in shares of QUALCOMM in the first quarter worth $34,000. 83.69% of the stock is owned by institutional investors.
QCOM has been the topic of a number of recent analyst reports. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. Zacks Investment Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Cowen restated an “outperform” rating and issued a $70.00 price target (down previously from $73.00) on shares of QUALCOMM in a research report on Thursday, January 31st. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, Evercore ISI restated an “in-line” rating and issued a $60.00 price target (down previously from $68.00) on shares of QUALCOMM in a research report on Monday, January 14th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $77.13.
QUALCOMM stock opened at $86.64 on Monday. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $88.63. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. The stock has a market capitalization of $104.86 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.22.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 21.3% on a year-over-year basis. As a group, equities analysts anticipate that QUALCOMM, Inc. will post 3.14 earnings per share for the current fiscal year.
In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $29,031,593.40. Following the transaction, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cristiano R. Amon sold 13,466 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total value of $807,960.00. Following the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The disclosure for this sale can be found here. In the last quarter, insiders sold 902,343 shares of company stock worth $31,869,553. Company insiders own 0.11% of the company’s stock.
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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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