QUALCOMM (QCOM) Sees Strong Trading Volume

QUALCOMM, Inc. (NASDAQ:QCOM) shares saw unusually-strong trading volume on Tuesday . Approximately 79,977,739 shares were traded during mid-day trading, an increase of 586% from the previous session’s volume of 11,652,782 shares.The stock last traded at $70.45 and had previously closed at $57.18.

Several analysts have recently issued reports on QCOM shares. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. Zacks Investment Research lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Cowen restated an “outperform” rating and set a $70.00 price target (down from $73.00) on shares of QUALCOMM in a research report on Thursday, January 31st. ValuEngine upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, Evercore ISI restated an “in-line” rating and set a $60.00 price target (down from $68.00) on shares of QUALCOMM in a research report on Monday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $65.95.

The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. The company has a market capitalization of $69.21 billion, a P/E ratio of 22.08, a PEG ratio of 1.80 and a beta of 1.22.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. QUALCOMM’s quarterly revenue was down 21.3% compared to the same quarter last year. On average, analysts predict that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.

In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the transaction, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Lavaca Capital LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $25,000. Csenge Advisory Group purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. raised its stake in shares of QUALCOMM by 688.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 537 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $36,000. Finally, Pearl River Capital LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $40,000. 83.70% of the stock is currently owned by institutional investors.

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About QUALCOMM (NASDAQ:QCOM)

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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