First Commonwealth Financial Corp PA Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Commonwealth Financial Corp PA increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,571 shares of the wireless technology company’s stock after acquiring an additional 823 shares during the period. First Commonwealth Financial Corp PA’s holdings in QUALCOMM were worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter valued at $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM opened at $135.74 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $150.13 billion, a P/E ratio of 14.50, a PEG ratio of 2.01 and a beta of 1.28. The stock has a 50-day moving average price of $154.50 and a 200-day moving average price of $160.83. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,666 shares of company stock valued at $5,047,052. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on QCOM. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $201.21.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.