Lau Associates Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Lau Associates reduced its stake in QUALCOMM by 1.33% during the most recent quarter end. The investment management company now holds a total of 22,257 shares of QUALCOMM which is valued at $1,487,658 after selling 300 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.QUALCOMM makes up approximately 1.52% of Lau Associates’s portfolio.

Other Hedge Funds, Including , Harbour Capital Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 2,650 additional shares and now holds a total of 15,969 shares of QUALCOMM which is valued at $1,067,368. QUALCOMM makes up approx 0.58% of Harbour Capital Advisors’s portfolio.

QUALCOMM closed down -0.43 points or -0.64% at $66.68 with 97,46,412 shares getting traded on Tuesday. Post opening the session at $67.7, the shares hit an intraday low of $66.56 and an intraday high of $67.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, QUALCOMM reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.97. The company had revenue of $6000.00 million for the quarter, compared to analysts expectations of $5578.82 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on QUALCOMM. 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 .Mizuho Upgraded QUALCOMM on Sep 30, 2016 to ” Buy”, Price Target of the shares are set at $75.Company shares were Reiterated by Cowen on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 74 from a previous price target of $62 .

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.

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