QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Archer Investment Corp

Archer Investment Corp grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 146.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,770 shares of the wireless technology company's stock after purchasing an additional 1,645 shares during the period. Archer Investment Corp's holdings in QUALCOMM were worth $426,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after buying an additional 105,631 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of QUALCOMM by 3.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares in the last quarter. Kanawha Capital Management LLC boosted its stake in shares of QUALCOMM by 1.9% in the first quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after buying an additional 1,573 shares in the last quarter. Finally, First Foundation Advisors boosted its stake in shares of QUALCOMM by 41.2% in the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after buying an additional 45,769 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Trading Up 0.5%

NASDAQ:QCOM traded up $0.69 on Friday, hitting $153.30. 1,049,770 shares of the stock were exchanged, compared to its average volume of 8,464,382. The stock has a market cap of $168.32 billion, a PE ratio of 15.61, a PEG ratio of 1.99 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average of $153.76 and a 200-day moving average of $154.96. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (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 business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on QCOM shares. Benchmark decreased their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Bank of America dropped their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $186.00.

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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