Renaissance Group LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 147,508 shares of the wireless technology company's stock after selling 12,927 shares during the quarter. Renaissance Group LLC's holdings in QUALCOMM were worth $22,660,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM during the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on QCOM shares. Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $201.21.
Check Out Our Latest Stock Analysis on QUALCOMM
Insider Buying and Selling
In other news, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total value of $91,439.28. Following the transaction, the chief financial officer now owns 56,445 shares in the company, valued at approximately $7,964,953.95. The trade was a 1.13 % 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, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last quarter. 0.08% of the stock is owned by insiders.
QUALCOMM Price Performance
NASDAQ:QCOM traded up $4.85 during mid-day trading on Friday, hitting $139.25. 10,947,680 shares of the stock traded hands, compared to its average volume of 8,878,501. The business's 50-day moving average price is $156.49 and its 200 day moving average price is $161.46. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $154.01 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
About QUALCOMM
(
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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