Cubist Systematic Strategies Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Cubist Systematic Strategies reduced its stake in QUALCOMM by 9.63% during the most recent quarter end. The investment management company now holds a total of 135,185 shares of QUALCOMM which is valued at $8,342,266 after selling 14,399 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.QUALCOMM makes up approximately 0.44% of Cubist Systematic Strategies’s portfolio.

Other Hedge Funds, Including , Chilton Capital Management reduced its stake in QCOM by selling 1,511 shares or 5.23% in the most recent quarter. The Hedge Fund company now holds 27,357 shares of QCOM which is valued at $1,688,200. QUALCOMM makes up approx 0.16% of Chilton Capital Management’s portfolio.Central Trust Co reduced its stake in QCOM by selling 1,025 shares or 2.27% in the most recent quarter. The Hedge Fund company now holds 44,200 shares of QCOM which is valued at $2,728,908. QUALCOMM makes up approx 0.20% of Central Trust Co’s portfolio. Quantitative Investment Management sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 325,300 shares of QCOM which is valued $19,846,553.Deprince Race Zollo Inc reduced its stake in QCOM by selling 53,050 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 719,052 shares of QCOM which is valued at $44,947,941. QUALCOMM makes up approx 0.88% of Deprince Race Zollo Inc’s portfolio.

QUALCOMM closed down -0.66 points or -1.05% at $62.43 with 6,281,596 shares getting traded on Wednesday. Post opening the session at $63.19, the shares hit an intraday low of $62.32 and an intraday high of $63.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 Mizuho on Sep 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 59 from a previous price target of $56 .QUALCOMM was Downgraded by Standpoint Research to ” Hold” on Jul 25, 2016. Company shares were Reiterated by Mizuho on Jul 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 56 from a previous price target of $50 .

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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