Parr Mcknight Wealth Management Group LLC raised its position in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 53.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,110 shares of the wireless technology company’s stock after acquiring an additional 10,427 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Qualcomm were worth $3,878,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Uptick Partners LLC grew its stake in shares of Qualcomm by 5.4% during the 1st quarter. Uptick Partners LLC now owns 1,820 shares of the wireless technology company’s stock valued at $234,000 after purchasing an additional 94 shares during the period. Arbejdsmarkedets Tillaegspension lifted its stake in shares of Qualcomm by 49.0% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 196,911 shares of the wireless technology company’s stock worth $25,358,000 after purchasing an additional 64,758 shares during the period. CORDA Investment Management LLC. lifted its stake in shares of Qualcomm by 11.7% in the 1st quarter. CORDA Investment Management LLC. now owns 32,037 shares of the wireless technology company’s stock worth $4,126,000 after purchasing an additional 3,356 shares during the period. Lifeworks Advisors LLC boosted its holdings in shares of Qualcomm by 18.4% in the first quarter. Lifeworks Advisors LLC now owns 50,019 shares of the wireless technology company’s stock worth $6,441,000 after buying an additional 7,779 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in Qualcomm by 37.8% during the first quarter. Procyon Advisors LLC now owns 42,168 shares of the wireless technology company’s stock valued at $5,430,000 after buying an additional 11,564 shares during the period. 74.35% of the stock is currently owned by institutional investors.
Qualcomm Stock Performance
QCOM opened at $189.16 on Monday. The firm has a market cap of $199.37 billion, a P/E ratio of 20.56, a PEG ratio of 5.63 and a beta of 1.63. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The company has a 50 day simple moving average of $209.59 and a two-hundred day simple moving average of $168.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61.
Qualcomm declared that its board has authorized a stock buyback program on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other news, CEO Cristiano R. Amon sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $180.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $197.35, for a total value of $493,375.00. Following the completion of the transaction, the executive vice president directly owned 25,684 shares of the company’s stock, valued at approximately $5,068,737.40. This trade represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 19,221 shares of company stock worth $3,592,440. 0.05% of the stock is currently owned by corporate insiders.
Qualcomm News Roundup
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Multiple recent pieces argue Qualcomm has more upside, including bullish price-target work and comparisons with other semiconductor names, with investors focused on its AI, data-center, and server growth potential. The Road To $380 For Qualcomm Stock
- Positive Sentiment: Analysts and market commentators highlighted Qualcomm’s expanding AI-focused portfolio and ongoing opportunities in emerging AI markets, which can reinforce the stock’s long-term growth narrative. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
- Positive Sentiment: Qualcomm’s automotive business continues to stand out, with record revenue and strong Snapdragon Digital Chassis adoption helping support the idea that growth is broadening beyond smartphones. Will Qualcomm’s Automotive Business Continue Driving Top-Line Growth?
- Positive Sentiment: Recent analyst upgrades, including DBS Bank’s move to “moderate buy,” and other bullish notes suggest Wall Street sentiment is improving. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
- Neutral Sentiment: One report said Qualcomm was the recipient of a large increase in short interest, but the figures shown were zero shares, so the data appears inconclusive and is unlikely to be a major driver. Short Interest Update
- Negative Sentiment: Qualcomm’s late-June removal from several Russell growth and defensive indices may still pressure the stock through passive index-related selling, even as fundamentals and AI-related headlines improve sentiment. How Investors Are Reacting To QUALCOMM (QCOM) Index Removal And New On-Device AI Deepfake Partnership
Wall Street Analyst Weigh In
A number of analysts have commented on QCOM shares. Rosenblatt Securities upped their target price on shares of Qualcomm from $190.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Zacks Research upgraded shares of Qualcomm from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Freedom Capital downgraded shares of Qualcomm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Bank of America upped their price objective on Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 23rd. Finally, UBS Group raised their target price on Qualcomm from $170.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $220.45.
Check Out Our Latest Stock Analysis on QCOM
Qualcomm Company Profile
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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