Syntax Research Inc. Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Syntax Research Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 20,169 shares of the wireless technology company’s stock after selling 205 shares during the quarter. QUALCOMM accounts for approximately 2.4% of Syntax Research Inc.’s investment portfolio, making the stock its 11th biggest holding. Syntax Research Inc.’s holdings in QUALCOMM were worth $2,917,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. DHJJ Financial Advisors Ltd. bought a new position in shares of QUALCOMM during the 3rd quarter worth $26,000. Financial Gravity Asset Management Inc. grew its stake 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 acquiring an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the 1st quarter worth $26,000. Legacy Financial Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth $29,000. Finally, Pacific Center for Financial Services bought a new position in shares of QUALCOMM during the 1st quarter worth $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QCOM traded up $1.48 during trading hours on Monday, reaching $172.77. 2,153,705 shares of the company’s stock traded hands, compared to its average volume of 8,582,867. The stock has a market cap of $192.81 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The firm’s 50 day simple moving average is $163.10 and its 200-day simple moving average is $141.23.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QCOM shares. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. KeyCorp increased their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald raised their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $154.90.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,360 shares of company stock valued at $7,184,678. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

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.