Selway Asset Management Has $7.94 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Selway Asset Management lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 46,709 shares of the wireless technology company’s stock after acquiring an additional 150 shares during the period. QUALCOMM makes up approximately 3.1% of Selway Asset Management’s investment portfolio, making the stock its 7th largest holding. Selway Asset Management’s holdings in QUALCOMM were worth $7,943,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter valued at approximately $30,000. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC boosted its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its position in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on QCOM shares. Robert W. Baird upped their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Susquehanna upped their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.38.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock worth $3,679,407 in the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.9 %

Shares of NASDAQ QCOM traded up $1.46 during mid-day trading on Friday, reaching $169.98. 3,801,395 shares of the company’s stock were exchanged, compared to its average volume of 9,064,405. The firm has a market capitalization of $189.70 billion, a price-to-earnings ratio of 22.85, a PEG 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 Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company’s 50-day moving average is $167.85 and its 200-day moving average is $182.09.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 analysts’ expectations of $9.23 billion. Analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Profile

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.