Teacher Retirement System of Texas Sells 441,487 Shares of QUALCOMM, Inc. (QCOM)

Teacher Retirement System of Texas cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 37.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 739,730 shares of the wireless technology company’s stock after selling 441,487 shares during the period. Teacher Retirement System of Texas owned about 0.05% of QUALCOMM worth $38,348,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. United Asset Strategies Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at about $5,249,000. Conning Inc. raised its stake in QUALCOMM by 16.4% in the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after purchasing an additional 101,483 shares during the last quarter. Stephens Inc. AR raised its stake in QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after purchasing an additional 11,232 shares during the last quarter. Private Asset Management Inc. raised its stake in QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock valued at $40,696,000 after purchasing an additional 4,028 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after purchasing an additional 160,226 shares during the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.

QUALCOMM, Inc. (QCOM) opened at $65.26 on Thursday. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $96,200.00, a PE ratio of 39.55, a PEG ratio of 1.89 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts forecast that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

In other news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,989 shares of company stock valued at $4,678,794 in the last quarter. Company insiders own 0.24% of the company’s stock.

Several research analysts recently weighed in on the stock. UBS Group cut their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Wells Fargo & Co downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Monday, November 6th. Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $70.00 in a research note on Wednesday, November 8th. Finally, Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $66.06.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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