Cubic Asset Management LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cubic Asset Management LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,312 shares of the wireless technology company’s stock after purchasing an additional 440 shares during the quarter. Cubic Asset Management LLC’s holdings in QUALCOMM were worth $1,781,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in QCOM. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM during the 3rd quarter worth $26,000. Financial Gravity Asset Management Inc. increased its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth $26,000. Pacifica Partners Inc. increased its holdings in shares of QUALCOMM by 150.0% during the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCOM. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Piper Sandler increased their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Stock Up 1.0 %

Shares of QCOM stock traded up $1.77 during trading hours on Friday, hitting $171.53. 5,683,034 shares of the company were exchanged, compared to its average volume of 7,320,254. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The business’s 50-day simple moving average is $160.31 and its two-hundred day simple moving average is $138.75. The stock has a market capitalization of $191.43 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,360 shares of company stock valued at $7,323,678. Insiders own 0.08% of the company’s stock.

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.