QUALCOMM Incorporated (NASDAQ:QCOM) Position Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 91.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,060 shares of the wireless technology company’s stock after selling 530,049 shares during the period. Renaissance Technologies LLC’s holdings in QUALCOMM were worth $7,538,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $136.54 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $151.01 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $153.10 and its two-hundred day simple moving average is $160.40.

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

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on QCOM shares. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. TD Cowen lowered their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $201.21.

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.