Mondrian Investment Partners LTD acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,491 shares of the wireless technology company’s stock, valued at approximately $913,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of QUALCOMM by 72.2% in the third quarter. Harbor Capital Advisors Inc. now owns 155 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 65 shares during the period. Cloud Capital Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $27,000. Winnow Wealth LLC bought a new stake in QUALCOMM in the 2nd quarter valued at about $32,000. Lavaca Capital LLC purchased a new stake in QUALCOMM during the second quarter valued at about $32,000. Finally, Howard Hughes Medical Institute purchased a new stake in QUALCOMM during the second quarter valued at about $38,000. 74.35% of the stock is owned by institutional investors.
QUALCOMM Price Performance
QUALCOMM stock opened at $140.70 on Tuesday. The stock has a market cap of $150.13 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 6.97 and a beta of 1.22. The company has a quick ratio of 1.83, a current ratio of 2.51 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $163.17 and a 200 day simple moving average of $164.25. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $205.95.
QUALCOMM Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.56 annualized dividend and a yield of 2.5%. QUALCOMM’s payout ratio is presently 73.55%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on QCOM shares. Daiwa America downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Robert W. Baird set a $177.00 target price on shares of QUALCOMM in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of QUALCOMM in a report on Monday, December 29th. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $164.67.
Check Out Our Latest Research Report on QUALCOMM
Insiders Place Their Bets
In other news, EVP Akash J. Palkhiwala sold 10,000 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $175.12, for a total value of $1,751,200.00. Following the transaction, the executive vice president owned 44,803 shares of the company’s stock, valued at $7,845,901.36. This represents a 18.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 15,917 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $178.01, for a total transaction of $2,833,385.17. Following the sale, the executive vice president owned 26,071 shares in the company, valued at approximately $4,640,898.71. This trade represents a 37.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,217 shares of company stock worth $7,901,275. 0.05% of the stock is owned by corporate insiders.
QUALCOMM Profile
QUALCOMM Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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