Ayrshire Capital Management LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Ayrshire Capital Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 8,391 shares of the wireless technology company’s stock after selling 338 shares during the period. Ayrshire Capital Management LLC’s holdings in QUALCOMM were worth $1,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Voisard Asset Management Group Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $58,000. Able Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $85,000. Neo Ivy Capital Management purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $40,000. Centaurus Financial Inc. grew its holdings in shares of QUALCOMM by 5.1% during the 4th quarter. Centaurus Financial Inc. now owns 5,565 shares of the wireless technology company’s stock worth $805,000 after acquiring an additional 271 shares during the period. Finally, Syon Capital LLC grew its holdings in shares of QUALCOMM by 167.7% during the 4th quarter. Syon Capital LLC now owns 4,890 shares of the wireless technology company’s stock worth $707,000 after acquiring an additional 3,063 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on QCOM shares. Cantor Fitzgerald cut their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.38.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $169.98 on Friday. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The stock’s fifty day moving average is $167.85 and its 200 day moving average is $182.09. The stock has a market cap of $189.70 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,245 shares of company stock worth $3,679,407. Corporate 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.