Qualcomm Inc decreased its stake in Qualcomm Inc (QCOM) by 10.71% based on its latest 2016Q3 regulatory filing with the SEC. Qualcomm Inc sold 100,331 shares as the company’s stock rose 29.25% with the market. The institutional investor held 836,388 shares of the radio and television broadcasting and communications equipment company at the end of 2016Q3, valued at $57.29 million, down from 936,719 at the end of the previous reported quarter. Qualcomm Inc who had been investing in Qualcomm Inc for a number of months, seems to be less bullish one the $96.90 billion market cap company. The stock closed at $65.63 during the last session. It is down 19.68% since June 7, 2016 and is uptrending. It has outperformed by 12.25% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.08 in 2016 Q3. Its up 0.12, from 0.96 in 2016Q2. The ratio improved, as 62 funds sold all QCOM shares owned while 518 reduced positions. 170 funds bought stakes while 458 increased positions. They now own 1.12 billion shares or 2.06% more from 1.10 billion shares in 2016Q2. Bb&T Securities Ltd Liability Com owns 1.02 million shares or 1.04% of their US portfolio. Altrinsic Advsrs reported 454,424 shares or 1.14% of all its holdings. M&R Cap Mgmt last reported 49,597 shares in the company. Rothschild Inv Il has 1.92% invested in the company for 228,805 shares. The California-based Gamble Jones Inv Counsel has invested 0.11% in QUALCOMM, Inc. (NASDAQ:QCOM). Ruffer Llp reported 816,453 shares or 3.29% of all its holdings. Jones Fin Lllp has invested 0% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM). Bb&T reported 660,008 shares or 0.93% of all its holdings. Fayez Sarofim & Communications holds 0.05% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 129,341 shares. Garrison Financial reported 20,333 shares or 0.89% of all its holdings. Legacy Private accumulated 4,200 shares or 0.04% of the stock. Premier Asset Managment Llc owns 32,445 shares or 0.55% of their US portfolio. Edmp owns 57,939 shares or 3.8% of their US portfolio. Bluefin Trading, a New York-based fund reported 18,996 shares. Gareth Morgan Investments Partnership holds 67,229 shares or 0.4% of its portfolio.
Insider Transactions: Since July 21, 2016, the stock had 0 buys, and 23 insider sales for $21.14 million net activity. Another trade for 15,000 shares valued at $1.01 million was sold by ABERLE DEREK K. 2,000 QUALCOMM, Inc. (NASDAQ:QCOM) shares with value of $136,320 were sold by GROB MATTHEW S. STERLING MICHELLE M sold $652,618 worth of QUALCOMM, Inc. (NASDAQ:QCOM) on Sunday, November 20. Another trade for 10,000 shares valued at $609,379 was made by THOMPSON JAMES H on Friday, September 9. Another trade for 7,000 shares valued at $427,000 was sold by DITTAMORE RAYMOND V. Rosenberg Donald J had sold 8,250 shares worth $503,993 on Thursday, August 4. The insider Murphy John Francis sold 9,344 shares worth $637,639.
Analysts await QUALCOMM, Inc. (NASDAQ:QCOM) to report earnings on January, 25 after the close. They expect $1.04 earnings per share, up 22.35% or $0.19 from last year’s $0.85 per share. QCOM’s profit will be $1.54B for 15.78 P/E if the $1.04 EPS becomes a reality. After $1.17 actual earnings per share reported by QUALCOMM, Inc. for the previous quarter, Wall Street now forecasts -11.11% negative EPS growth.
More notable recent QUALCOMM, Inc. (NASDAQ:QCOM) news were published by: Fool.com which released: “2 Things to Watch From Qualcomm Inc. in 2017” on December 30, 2016, also Fool.com with their article: “Comparing Apple Inc.’s A10 With Qualcomm Inc.’s New Snapdragon 835 Chip” published on January 04, 2017, Blogs.Wsj.com published: “Crisis of the Week: Qualcomm Chips Away at South Korea Probe” on January 09, 2017. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Bloomberg.com and their article: “Qualcomm Fined $853 Million by South Korean Antitrust Agency” published on December 28, 2016 as well as Wsj.com‘s news article titled: “Qualcomm to Invest in SoftBank’s New Technology Fund” with publication date: January 03, 2017.
According to Zacks Investment Research, “QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. The company’s business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. (Company Press Release)”
QUALCOMM, Inc. (NASDAQ:QCOM) Ratings Coverage
Out of 28 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 15 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 54% are positive. Qualcomm Inc. has been the topic of 66 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Friday, August 14, the company rating was maintained by Canaccord Genuity. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) earned “Outperform” rating by Cowen & Co on Friday, September 30. The firm has “Underperform” rating given on Friday, July 15 by BMO Capital Markets. Topeka Capital Markets maintained QUALCOMM, Inc. (NASDAQ:QCOM) rating on Wednesday, December 16. Topeka Capital Markets has “Hold” rating and $52 price target. Topeka Capital Markets maintained QUALCOMM, Inc. (NASDAQ:QCOM) on Thursday, November 5 with “Hold” rating. The stock has “Neutral” rating given by Mizuho on Thursday, July 21. On Thursday, November 5 the stock rating was maintained by Cowen & Co with “Outperform”. JP Morgan initiated QUALCOMM, Inc. (NASDAQ:QCOM) on Tuesday, September 8 with “Neutral” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, July 23 report. As per Tuesday, May 17, the company rating was initiated by CLSA.
QCOM Company Profile
QUALCOMM Incorporated, incorporated on August 15, 1991, is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Firm 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) standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Firm also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand, such as certain audio and video codecs, the wireless local area networks (WLAN) 802.11 functionality and volatile and non-volatile memory controllers. Other technologies used by wireless devices that it has developed include operating systems, user interfaces, graphics and camera processing functionality, integrated circuit packaging techniques, sensors and sensor fusion algorithms and application processor architectures.
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