LSV Asset Management boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,989,072 shares of the wireless technology company's stock after acquiring an additional 392,802 shares during the period. QUALCOMM accounts for about 1.1% of LSV Asset Management's holdings, making the stock its 13th biggest position. LSV Asset Management owned about 0.27% of QUALCOMM worth $459,181,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth about $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at QUALCOMM
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 30,666 shares of company stock worth $5,047,052. Insiders own 0.08% of the company's stock.
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Analysts Set New Price Targets
A number of brokerages have issued reports on QCOM. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $201.21.
Check Out Our Latest Analysis on QUALCOMM
QUALCOMM Trading Up 3.6 %
NASDAQ:QCOM traded up $4.85 during trading hours on Friday, reaching $139.25. The company's stock had a trading volume of 10,947,680 shares, compared to its average volume of 8,878,501. The firm has a 50-day simple moving average of $156.49 and a 200-day simple moving average of $161.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The firm has a market capitalization of $154.01 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.01 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Company Profile
(Free Report)
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.
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