Croban Buys New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Croban bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,838 shares of the wireless technology company's stock, valued at approximately $1,050,000.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Brighton Jones LLC increased its holdings in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of QUALCOMM by 50.1% in the fourth quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock worth $645,000 after acquiring an additional 1,401 shares in the last quarter. PFG Advisors grew its stake in shares of QUALCOMM by 11.5% in the fourth quarter. PFG Advisors now owns 3,993 shares of the wireless technology company's stock worth $613,000 after acquiring an additional 411 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of QUALCOMM by 4.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 112,367 shares of the wireless technology company's stock worth $17,262,000 after acquiring an additional 4,560 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 over the last ninety days. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.2%

QUALCOMM stock opened at $159.09 on Friday. The company's 50 day simple moving average is $152.48 and its 200 day simple moving average is $155.07. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm has a market capitalization of $174.68 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $186.39.

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.

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