Sterling Capital Management LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sterling Capital Management LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,593 shares of the wireless technology company's stock after purchasing an additional 5,746 shares during the quarter. Sterling Capital Management LLC's holdings in QUALCOMM were worth $11,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. raised its stake in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM during the fourth quarter worth $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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QUALCOMM Stock Performance

QCOM traded down $0.66 during midday trading on Tuesday, reaching $138.53. The company had a trading volume of 2,569,566 shares, compared to its average volume of 8,848,691. The business has a 50-day moving average price of $155.76 and a two-hundred day moving average price of $161.16. 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 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market cap of $153.21 billion, a PE ratio of 14.80, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $201.21.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the firm'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 in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $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 sold 30,666 shares of company stock worth $5,047,052 over the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM 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.