Torray LLC Increases Stake in QUALCOMM, Inc. (QCOM)
Torray LLC grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 42.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,305 shares of the wireless technology company’s stock after buying an additional 6,905 shares during the period. Torray LLC’s holdings in QUALCOMM were worth $1,208,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in QCOM. Knights of Columbus Asset Advisors LLC boosted its stake in QUALCOMM by 9.0% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 39,400 shares of the wireless technology company’s stock worth $2,042,000 after purchasing an additional 3,250 shares in the last quarter. Haverford Trust Co. boosted its stake in QUALCOMM by 14.2% in the 3rd quarter. Haverford Trust Co. now owns 11,904 shares of the wireless technology company’s stock worth $617,000 after purchasing an additional 1,480 shares in the last quarter. OLD Dominion Capital Management Inc. boosted its stake in QUALCOMM by 10.3% in the 3rd quarter. OLD Dominion Capital Management Inc. now owns 10,721 shares of the wireless technology company’s stock worth $556,000 after purchasing an additional 997 shares in the last quarter. Flossbach Von Storch AG boosted its stake in QUALCOMM by 0.6% in the 3rd quarter. Flossbach Von Storch AG now owns 1,055,200 shares of the wireless technology company’s stock worth $54,702,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Morningstar Investment Services LLC boosted its stake in QUALCOMM by 2.2% in the 3rd quarter. Morningstar Investment Services LLC now owns 276,357 shares of the wireless technology company’s stock worth $14,326,000 after purchasing an additional 5,915 shares in the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, November 27th. Macquarie upped their price target on shares of QUALCOMM from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday. Canaccord Genuity upped their price target on shares of QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and a consensus price target of $67.14.
Shares of QUALCOMM, Inc. (QCOM) opened at $68.04 on Friday. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a market cap of $100,725.40, a PE ratio of 18.00, a PEG ratio of 1.93 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. sell-side analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is currently 138.18%.
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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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