QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097 shares of the wireless technology company’s stock after purchasing an additional 227 shares during the period. Versant Capital Management Inc’s holdings in QUALCOMM were worth $187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at about $27,000. HWG Holdings LP acquired a new stake in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new position in QUALCOMM in the first quarter valued at about $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.4 %

Shares of NASDAQ QCOM opened at $166.34 on Wednesday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The firm has a fifty day moving average of $167.77 and a 200-day moving average of $182.17. The stock has a market capitalization of $185.64 billion, a PE ratio of 22.36, a P/E/G ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,245 shares of company stock valued at $3,679,407. Company 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.