Guggenheim Capital LLC Purchases 16,735 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Guggenheim Capital LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 825,160 shares of the wireless technology company’s stock after purchasing an additional 16,735 shares during the period. QUALCOMM comprises about 1.0% of Guggenheim Capital LLC’s investment portfolio, making the stock its 11th biggest position. Guggenheim Capital LLC owned 0.07% of QUALCOMM worth $126,761,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $38,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $201.21.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $139.19 on Tuesday. The firm’s fifty day moving average is $155.76 and its 200 day moving average is $161.16. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a market cap of $153.94 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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.