Virtu Financial LLC Acquires New Position in QUALCOMM, Inc. (QCOM)

Virtu Financial LLC acquired a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 19,219 shares of the wireless technology company’s stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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. grew 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 buying 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 owned by institutional investors.

In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on QCOM shares. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Barclays reissued a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research note on Friday, January 18th. Mizuho dropped their price target on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, January 31st. UBS Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $64.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Finally, ValuEngine cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.95.

NASDAQ:QCOM opened at $57.18 on Tuesday. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38. The company has a market cap of $68.93 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.80 and a beta of 1.22. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The firm’s quarterly revenue was down 21.3% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. As a group, equities analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current 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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