Signet Financial Management LLC Has $420,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Signet Financial Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,732 shares of the wireless technology company’s stock after selling 267 shares during the quarter. Signet Financial Management LLC’s holdings in QUALCOMM were worth $420,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in QCOM. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter worth approximately $30,000. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $42,000. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth $36,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QCOM opened at $157.13 on Tuesday. The firm has a market cap of $174.57 billion, a P/E ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The firm has a 50-day moving average of $159.51 and a 200 day moving average of $169.65.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QCOM shares. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley dropped their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is 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.