Exchange Traded Concepts LLC Buys 97,830 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Exchange Traded Concepts LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 51.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,102 shares of the wireless technology company’s stock after purchasing an additional 97,830 shares during the quarter. QUALCOMM makes up approximately 1.1% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 11th largest holding. Exchange Traded Concepts LLC’s holdings in QUALCOMM were worth $48,822,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. HWG Holdings LP bought a new position in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new position in QUALCOMM during the first quarter worth about $37,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Citigroup raised their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.38.

QUALCOMM Stock Up 0.9 %

NASDAQ:QCOM opened at $169.98 on Friday. The firm’s 50 day simple moving average is $167.85 and its 200 day simple moving average is $182.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market cap of $189.70 billion, a PE ratio of 22.85, a P/E/G ratio of 1.71 and a beta of 1.28.

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

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on 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 sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,245 shares of company stock worth $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.