Los Angeles Capital Management & Equity Research Inc. lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 629,263 shares of the wireless technology company’s stock after selling 33,171 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in QUALCOMM were worth $32,621,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC lifted its stake in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Northern Trust Corp lifted its stake in QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares during the last quarter. Capital International Investors lifted its stake in QUALCOMM by 59.9% during the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after purchasing an additional 5,671,176 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its stake in QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after purchasing an additional 5,453,631 shares during the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.

QCOM has been the subject of several recent analyst reports. Canaccord Genuity boosted their target price on QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, UBS Group decreased their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $66.06.

QUALCOMM, Inc. (NASDAQ:QCOM) opened at $65.26 on Thursday. The company has a market capitalization of $96,200.00, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. equities analysts expect that QUALCOMM, Inc. will post 3.07 EPS for the current year.

In other news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at $824,638.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. In the last three months, insiders sold 72,989 shares of company stock worth $4,678,794. Corporate insiders own 0.24% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Los Angeles Capital Management & Equity Research Inc. Sells 33,171 Shares of QUALCOMM, Inc. (QCOM)” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.watchlistnews.com/los-angeles-capital-management-equity-research-inc-sells-33171-shares-of-qualcomm-inc-qcom/1802537.html.

QUALCOMM Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company 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)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.