AMG Funds LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,953 shares of the wireless technology company’s stock after buying an additional 449 shares during the period. QUALCOMM comprises about 1.2% of AMG Funds LLC’s holdings, making the stock its 26th largest position. AMG Funds LLC’s holdings in QUALCOMM were worth $2,176,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its position in QUALCOMM by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 16,458,657 shares of the wireless technology company’s stock valued at $1,073,104,000 after buying an additional 531,407 shares during the last quarter. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at about $922,599,000. Fisher Asset Management LLC raised its position in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares during the last quarter. AQR Capital Management LLC raised its position in QUALCOMM by 3.1% in the fourth quarter. AQR Capital Management LLC now owns 4,433,172 shares of the wireless technology company’s stock valued at $289,042,000 after buying an additional 132,465 shares during the last quarter. Finally, American Century Companies Inc. raised its position in QUALCOMM by 25.5% in the first quarter. American Century Companies Inc. now owns 4,229,488 shares of the wireless technology company’s stock valued at $242,519,000 after buying an additional 858,845 shares during the last quarter. Institutional investors own 77.96% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 55.32 on Wednesday. The firm’s 50-day moving average price is $57.09 and its 200 day moving average price is $57.97. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The company has a market cap of $81.73 billion, a PE ratio of 18.43 and a beta of 1.30.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.29. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post $4.25 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on QCOM shares. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Northland Securities lowered QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $75.00 to $62.50 in a research report on Wednesday, June 28th. Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective for the company in a research report on Tuesday, June 27th. Cowen and Company reiterated an “outperform” rating and issued a $73.00 price objective on shares of QUALCOMM in a research report on Wednesday, April 19th. Finally, J P Morgan Chase & Co upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $68.00 in a research report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $64.89.
In other QUALCOMM news, EVP James H. Thompson sold 25,000 shares of the business’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $52.53, for a total value of $1,313,250.00. Following the sale, the executive vice president now directly owns 76,246 shares in the company, valued at $4,005,202.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares in the company, valued at $174,646.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,473 shares of company stock worth $4,840,167. Corporate insiders own 0.24% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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