RNC Capital Management LLC raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.7% during the 1st quarter, Holdings Channel reports. The firm owned 697,486 shares of the wireless technology company’s stock after acquiring an additional 31,265 shares during the period. QUALCOMM accounts for 2.8% of RNC Capital Management LLC’s portfolio, making the stock its 12th biggest position. RNC Capital Management LLC’s holdings in QUALCOMM were worth $39,778,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mathes Company Inc. boosted its stake in shares of QUALCOMM by 190.0% in the fourth quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock valued at $495,000 after buying an additional 5,700 shares in the last quarter. Epstein & White Financial LLC boosted its stake in shares of QUALCOMM by 34.4% in the fourth quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock valued at $555,000 after buying an additional 2,495 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of QUALCOMM by 6.1% in the first quarter. Bogart Wealth LLC now owns 10,342 shares of the wireless technology company’s stock valued at $589,000 after buying an additional 591 shares in the last quarter. First American Bank boosted its stake in shares of QUALCOMM by 4.5% in the fourth quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock valued at $1,552,000 after buying an additional 1,166 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its position in QUALCOMM by 4.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after purchasing an additional 778 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

A number of research firms have commented on QCOM. Bank of America reiterated a “neutral” rating and set a $71.00 target price (up from $60.00) on shares of QUALCOMM in a research report on Wednesday. Macquarie set a $85.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday. Sanford C. Bernstein set a $60.00 target price on QUALCOMM and gave the stock a “hold” rating in a research report on Wednesday. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Argus boosted their target price on QUALCOMM to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $76.32.

In related news, President Cristiano R. Amon sold 13,466 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the transaction, the president now directly owns 37,614 shares in the company, valued at $2,256,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

NASDAQ QCOM opened at $79.89 on Friday. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $82.52. The firm has a market capitalization of $96.69 billion, a PE ratio of 25.04, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM, Inc. will post 3.14 earnings per share for the current fiscal year.

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QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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