Davidson Investment Advisors Has $10.27 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Davidson Investment Advisors grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2,246.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,878 shares of the wireless technology company's stock after acquiring an additional 64,028 shares during the period. Davidson Investment Advisors' holdings in QUALCOMM were worth $10,273,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Banque Transatlantique SA acquired a new position in QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares during the last quarter. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Citigroup upped their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $186.39.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $0.26 during mid-day trading on Thursday, hitting $159.09. 5,671,246 shares of the stock traded hands, compared to its average volume of 8,525,694. 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 Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a market cap of $174.68 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The firm has a 50 day simple moving average of $152.00 and a two-hundred day simple moving average of $155.07.

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

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock worth $8,310,735. Company 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.