LSV Asset Management Purchases 392,802 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

LSV Asset Management raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,989,072 shares of the wireless technology company's stock after purchasing 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 0.27% of QUALCOMM worth $459,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of QCOM. Continuum Advisory LLC lifted its holdings in QUALCOMM by 15.5% during the 3rd quarter. Continuum Advisory LLC now owns 3,342 shares of the wireless technology company's stock worth $548,000 after purchasing an additional 448 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $431,000. TD Private Client Wealth LLC boosted its holdings in QUALCOMM by 1.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company's stock valued at $1,681,000 after purchasing an additional 100 shares during the period. Rehmann Capital Advisory Group grew its position in shares of QUALCOMM by 6.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,249 shares of the wireless technology company's stock valued at $1,744,000 after purchasing an additional 664 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its holdings in shares of QUALCOMM by 1,924.8% in the third quarter. Soltis Investment Advisors LLC now owns 33,410 shares of the wireless technology company's stock worth $5,681,000 after purchasing an additional 31,760 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. TD Cowen decreased their price objective 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 reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $201.21.

QUALCOMM Stock Down 0.8 %

Shares of QCOM stock traded down $1.13 during midday trading on Monday, reaching $138.12. 3,072,803 shares of the stock were exchanged, compared to its average volume of 8,858,575. The firm has a market cap of $152.76 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 company's 50 day moving average is $156.49 and its two-hundred day moving average is $161.38. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Buying and Selling

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

About QUALCOMM

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.