CacheTech Inc. Has $952,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CacheTech Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,198 shares of the wireless technology company’s stock after purchasing an additional 953 shares during the period. CacheTech Inc.’s holdings in QUALCOMM were worth $952,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. 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. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $201.21.

QUALCOMM Stock Performance

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

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

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