Narwhal Capital Management lessened its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 28.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,325 shares of the wireless technology company’s stock after selling 13,967 shares during the quarter. Narwhal Capital Management’s holdings in Qualcomm were worth $6,317,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. ABS Investment Management LLC acquired a new position in shares of Qualcomm in the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC acquired a new stake in Qualcomm during the 2nd quarter worth approximately $34,000. Mizuho Securities Co. Ltd. acquired a new stake in Qualcomm during the 3rd quarter worth approximately $35,000. Team Financial Group LLC acquired a new stake in Qualcomm during the 3rd quarter worth approximately $38,000. Finally, Burk Holdings LLC boosted its position in Qualcomm by 191.7% in the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock valued at $39,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have commented on QCOM. Piper Sandler restated a “neutral” rating on shares of Qualcomm in a research note on Thursday, November 5th. Evercore set a $159.00 price objective on Qualcomm in a research report on Thursday, July 30th. Zacks Research cut Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. UBS Group reduced their price objective on Qualcomm from $185.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Finally, Weiss Ratings upgraded Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $197.13.
Read Our Latest Analysis on QCOM
Qualcomm Stock Up 1.2%
QCOM stock opened at $173.53 on Wednesday. The company’s 50 day moving average price is $178.31 and its 200 day moving average price is $169.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The firm has a market capitalization of $185.68 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.71 and a beta of 1.70.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The firm had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Qualcomm Incorporated will post 7.15 EPS for the current fiscal year.
Qualcomm Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.92 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio is currently 28.98%.
Qualcomm News Roundup
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Automotive revenue reportedly reached a record $1.99 billion, up 89%, and Qualcomm expects non-handset revenue to grow more than 60% in fiscal 2027. Those businesses could help offset softness in smartphones. Article
- Positive Sentiment: ETFs recorded $28.3 million in net QCOM purchases on Nov. 5, with more funds adding shares than trimming them—one indication of institutional demand. Article
- Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan and retained 39,379 shares, making the transaction a less direct signal about her view of the company. SEC filing
- Negative Sentiment: Freedom Broker downgraded Qualcomm from Buy to Hold and cut its price target to $185 from $200, citing expectations that investment in newer growth businesses will pressure margins longer than anticipated. Article
- Negative Sentiment: Handset revenue reportedly fell 26%, while earnings guidance was below expectations, renewing concerns about the company’s dependence on its smartphone-chip business. Article
Insider Buying and Selling
In other news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction on Monday, November 9th. The shares were sold at an average price of $165.42, for a total transaction of $529,344.00. Following the completion of the sale, the executive vice president directly owned 39,379 shares of the company’s stock, valued at approximately $6,514,074.18. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 208 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $35,360.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 32,520 shares of company stock worth $6,101,411. Corporate insiders own 0.05% of the company’s stock.
Qualcomm Company Profile
Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.
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