QUALCOMM (QCOM) : Eagle Ridge Investment Management scooped up 3,785 additional shares in QUALCOMM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 68,153 shares of QUALCOMM which is valued at $3,587,574.QUALCOMM makes up approximately 0.82% of Eagle Ridge Investment Management’s portfolio.
QUALCOMM closed down -0.01 points or -0.02% at $52.9 with 82,56,621 shares getting traded on Wednesday. Post opening the session at $52.03, the shares hit an intraday low of $52.01 and an intraday high of $53.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Paradigm Financial Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 6,565 additional shares and now holds a total of 39,308 shares of QUALCOMM which is valued at $2,069,173. QUALCOMM makes up approx 1.25% of Paradigm Financial Advisors’s portfolio.First Citizens Bank Trust Co boosted its stake in QCOM in the latest quarter, The investment management firm added 901 additional shares and now holds a total of 8,095 shares of QUALCOMM which is valued at $426,121. QUALCOMM makes up approx 0.04% of First Citizens Bank Trust Co’s portfolio.Firstmerit Bank N A Trustee reduced its stake in QCOM by selling 4,099 shares or 13.47% in the most recent quarter. The Hedge Fund company now holds 26,323 shares of QCOM which is valued at $1,385,643. QUALCOMM makes up approx 0.11% of Firstmerit Bank N A Trustee’s portfolio.Berkshire Asset Managementpa boosted its stake in QCOM in the latest quarter, The investment management firm added 433 additional shares and now holds a total of 111,051 shares of QUALCOMM which is valued at $5,670,264. QUALCOMM makes up approx 0.87% of Berkshire Asset Managementpa’s portfolio. Waverton Investment Management Ltd sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 135,260 shares of QCOM which is valued $6,898,260.
On the company’s financial health, QUALCOMM reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.96. The company had revenue of $5551.00 million for the quarter, compared to analysts expectations of $5334.52 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.40 EPS.
Many Wall Street Analysts have commented on QUALCOMM. Rosenblatt Downgraded QUALCOMM on Apr 21, 2016 to ” Neutral”, Price Target of the shares are set at $57.Company shares were Reiterated by Mizuho on Apr 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Shares were Downgraded by Barclays on Mar 28, 2016 to ” Equal Weight” and Lowered the Price Target to $ 50 from a previous price target of $55 .
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.