NorthCrest Asset Manangement LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,902 shares of the wireless technology company’s stock after purchasing an additional 4,610 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in QUALCOMM were worth $4,963,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Zullo Investment Group Inc. raised its stake in shares of QUALCOMM by 2.5% in the 1st quarter. Zullo Investment Group Inc. now owns 6,273 shares of the wireless technology company’s stock valued at $800,000 after buying an additional 152 shares in the last quarter. D.A. Davidson & CO. grew its position in QUALCOMM by 1.6% in the first quarter. D.A. Davidson & CO. now owns 440,462 shares of the wireless technology company’s stock valued at $56,192,000 after acquiring an additional 6,840 shares during the period. Machina Capital S.A.S. raised its stake in QUALCOMM by 3.7% during the first quarter. Machina Capital S.A.S. now owns 2,800 shares of the wireless technology company’s stock worth $357,000 after acquiring an additional 100 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in shares of QUALCOMM by 1.5% during the first quarter. McKinley Carter Wealth Services Inc. now owns 39,013 shares of the wireless technology company’s stock valued at $4,977,000 after acquiring an additional 594 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of QUALCOMM by 13.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 9,553 shares of the wireless technology company’s stock worth $1,219,000 after purchasing an additional 1,141 shares during the last quarter. Institutional investors and hedge funds own 71.48% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on QCOM shares. UBS Group cut their price target on shares of QUALCOMM from $125.00 to $120.00 in a report on Thursday, May 4th. Evercore ISI dropped their target price on QUALCOMM from $130.00 to $120.00 in a research report on Thursday, May 4th. Bank of America lifted their price objective on QUALCOMM from $130.00 to $145.00 in a research report on Friday, June 16th. StockNews.com upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Westpark Capital initiated coverage on shares of QUALCOMM in a report on Wednesday, March 22nd. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $146.75.
QUALCOMM Trading Up 0.6 %
QUALCOMM (NASDAQ:QCOM – Free Report) last posted its earnings results on Wednesday, May 3rd. The wireless technology company reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.14). QUALCOMM had a return on equity of 56.33% and a net margin of 25.67%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 6.36 earnings per share 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, application processing, multimedia, and global positioning system products.
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