Sierra Summit Advisors LLC Sells 5,926 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sierra Summit Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 64.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,268 shares of the wireless technology company's stock after selling 5,926 shares during the period. Sierra Summit Advisors LLC's holdings in QUALCOMM were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QCOM shares. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $202.64.

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Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 2.6 %

Shares of NASDAQ QCOM traded up $3.49 during trading hours on Friday, hitting $137.89. The stock had a trading volume of 4,552,285 shares, compared to its average volume of 8,491,256. The company has a market capitalization of $152.50 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.01 and a beta of 1.28. The firm's 50-day moving average price is $157.17 and its two-hundred day moving average price is $161.66. 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 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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.