Magnetar Financial LLC Acquires New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Magnetar Financial LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel reports. The firm bought 2,437 shares of the wireless technology company’s stock, valued at approximately $374,000.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $29,000. Synergy Asset Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM during the third quarter valued at approximately $39,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 0.7 %

Shares of QUALCOMM stock opened at $156.82 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $164.51 and its two-hundred day simple moving average is $163.98. The company has a market cap of $173.44 billion, a P/E ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

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

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.