QUALCOMM (QCOM) : Jericho Capital Asset Management added new position in QUALCOMM during the most recent quarter end. The investment management firm now holds 1,565,100 shares of QUALCOMM which is valued at $103,187,043 , the company said in a statement filed on Nov 14, 2016 with the SEC.QUALCOMM makes up approximately 5.40% of Jericho Capital Asset Management’s portfolio.
Other Hedge Funds, Including , Mason Street Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 199,354 shares of QUALCOMM which is valued at $13,143,409. QUALCOMM makes up approx 0.37% of Mason Street Advisors’s portfolio.Nicholas Hoffman Company. reduced its stake in QCOM by selling 130 shares or 1.13% in the most recent quarter. The Hedge Fund company now holds 11,377 shares of QCOM which is valued at $754,409. QUALCOMM makes up approx 0.42% of Nicholas Hoffman Company.’s portfolio.Blume Capital Management reduced its stake in QCOM by selling 3,890 shares or 2.89% in the most recent quarter. The Hedge Fund company now holds 130,935 shares of QCOM which is valued at $8,963,810. QUALCOMM makes up approx 5.59% of Blume Capital Management’s portfolio.Cibc World Markets boosted its stake in QCOM in the latest quarter, The investment management firm added 63,193 additional shares and now holds a total of 179,223 shares of QUALCOMM which is valued at $11,998,980. QUALCOMM makes up approx 0.05% of Cibc World Markets’s portfolio.
QUALCOMM opened for trading at $66.68 and hit $67.455 on the upside on Monday, eventually ending the session at $67.31, with a gain of 0.96% or 0.64 points. The heightened volatility saw the trading volume jump to 98,89,299 shares. Company has a market cap of $99,409 M.
On the company’s financial health, QUALCOMM reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.13. The company had revenue of $9170.00 million for the quarter, compared to analysts expectations of $5855.34 million. The company’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Investors should note that on Oct 6, 2016, QUALCOMM announced a cash dividend of $0.5300. The company’s management has announced Nov 28, 2016 as the ex-dividend date and fixed the record date on Nov 30, 2016. The payable date has been fixed on Dec 16, 2016.
Many Wall Street Analysts have commented on QUALCOMM. QUALCOMM was Downgraded by Morgan Stanley to ” Equal-Weight” on Nov 10, 2016. QUALCOMM was Upgraded by Nomura to ” Buy” on Oct 31, 2016. Company shares were Reiterated by RBC Capital Mkts on Oct 3, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $59 .
Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G) fourth-generation (4G) and next-generation wireless technologies. The Company’s products include 2net AllPlay Brew Gobi Halo HealthyCircles Hy-Fi IPQ IZat Pixtronix Powerline QChat QLearn Small Cells Snapdragon Vive RaptorQ Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Company’s Brew platform enables feature phone applications such as gaming messaging Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G 4G and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points creating networks by plugging in.