Menlo Advisors Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Menlo Advisors reduced its stake in QUALCOMM by 2.48% during the most recent quarter end. The investment management company now holds a total of 44,360 shares of QUALCOMM which is valued at $2,265,022 after selling 1,130 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.QUALCOMM makes up approximately 2.05% of Menlo Advisors’s portfolio.

QUALCOMM opened for trading at $51.09 and hit $51.73 on the upside on Monday, eventually ending the session at $51.55, with a gain of 0.96% or 0.49 points. The heightened volatility saw the trading volume jump to 76,73,094 shares. Company has a market cap of $77,061 M.

Other Hedge Funds, Including , Tufton Capital Management boosted its stake in QCOM in the latest quarter, The investment management firm added 7,158 additional shares and now holds a total of 108,311 shares of QUALCOMM which is valued at $5,530,360. QUALCOMM makes up approx 1.37% of Tufton Capital Management’s portfolio.Central Trust Co reduced its stake in QCOM by selling 2,839 shares or 5.91% in the most recent quarter. The Hedge Fund company now holds 45,225 shares of QCOM which is valued at $2,309,189. QUALCOMM makes up approx 0.18% of Central Trust Co’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.Mai Capital Management reduced its stake in QCOM by selling 8,482 shares or 6.44% in the most recent quarter. The Hedge Fund company now holds 123,236 shares of QCOM which is valued at $6,285,036. QUALCOMM makes up approx 0.52% of Mai Capital Management’s portfolio.British Columbia Investment Management Corp boosted its stake in QCOM in the latest quarter, The investment management firm added 42,140 additional shares and now holds a total of 937,401 shares of QUALCOMM which is valued at $47,807,451. QUALCOMM makes up approx 0.45% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, QUALCOMM reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $0.91. The company had revenue of $5775.00 million for the quarter, compared to analysts expectations of $5714.38 million. The company’s revenue was down -18.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.34 EPS.

Many Wall Street Analysts have commented on QUALCOMM. 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 was Upgraded by Bernstein to ” Outperform” on Feb 16, 2016.

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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