QUALCOMM, Inc. (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,925 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the transaction, the chief financial officer now directly owns 17,790 shares of the company’s stock, valued at $1,822,051.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of NASDAQ:QCOM opened at $105.61 on Friday. QUALCOMM, Inc. has a 52 week low of $58.00 and a 52 week high of $107.75. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 4.67. The firm has a market capitalization of $120.94 billion, a P/E ratio of 44.56, a PEG ratio of 1.98 and a beta of 1.34. The firm’s 50 day moving average is $90.67 and its two-hundred day moving average is $82.54.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts predict that QUALCOMM, Inc. will post 3.08 EPS for the current year.
QCOM has been the topic of several research analyst reports. Charter Equity reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, April 30th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a research report on Friday, June 12th. Raymond James increased their price target on shares of QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Morgan Stanley increased their price target on shares of QUALCOMM from $102.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Susquehanna Bancshares increased their price target on shares of QUALCOMM from $110.00 to $125.00 in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Buy” and an average price target of $106.36.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexavest Inc. increased its stake in shares of QUALCOMM by 109.6% during the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 171 shares during the period. Harwood Advisory Group LLC acquired a new position in shares of QUALCOMM during the first quarter valued at approximately $32,000. RMR Wealth Builders acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $34,000. Sound Income Strategies LLC increased its stake in shares of QUALCOMM by 118.7% during the first quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 273 shares during the period. Finally, Advisory Alpha LLC increased its stake in shares of QUALCOMM by 493.9% during the first quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 405 shares during the period. Institutional investors and hedge funds own 74.50% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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