Flagship Harbor Advisors LLC raised its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 109.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,987 shares of the wireless technology company’s stock after buying an additional 4,700 shares during the period. Flagship Harbor Advisors LLC’s holdings in QUALCOMM were worth $512,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of QCOM. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $25,000. Csenge Advisory Group acquired a new stake in QUALCOMM during the third quarter worth about $28,000. Transamerica Financial Advisors Inc. raised its stake in QUALCOMM by 688.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 537 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $36,000. Finally, Pearl River Capital LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $40,000. 83.70% of the stock is owned by institutional investors.
Shares of NASDAQ:QCOM opened at $70.45 on Wednesday. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a market capitalization of $69.21 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.81 and a beta of 1.22. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $0.98 earnings per share. QUALCOMM’s revenue was down 21.3% compared to the same quarter last year. Sell-side analysts predict that QUALCOMM, Inc. will post 3.21 EPS for the current year.
Several research firms recently weighed in on QCOM. Zacks Investment Research lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. began coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.95.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.
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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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