Radnor Capital Management LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Radnor Capital Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,559 shares of the wireless technology company’s stock after selling 5,546 shares during the period. Radnor Capital Management LLC’s holdings in QUALCOMM were worth $3,926,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new position in QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the third quarter worth approximately $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $159.53 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The business’s fifty day moving average price is $159.38 and its 200 day moving average price is $169.37. The stock has a market capitalization of $177.24 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QCOM. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.11.

Check Out Our Latest Analysis on QUALCOMM

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

(Free Report)

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.

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