Novem Group reduced its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,848 shares of the wireless technology company’s stock after selling 2,972 shares during the quarter. Novem Group’s holdings in Qualcomm were worth $4,389,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Qualcomm in the second quarter valued at about $17,583,115,000. Bank of New York Mellon Corp acquired a new stake in Qualcomm during the second quarter worth about $1,523,930,000. Deutsche Bank AG acquired a new stake in Qualcomm during the second quarter worth about $1,178,349,000. Amundi increased its holdings in Qualcomm by 94.1% in the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after buying an additional 4,942,908 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Qualcomm by 22.7% in the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after buying an additional 3,179,720 shares during the period. Institutional investors own 74.35% of the company’s stock.
Qualcomm Price Performance
Qualcomm stock traded up $1.42 during midday trading on Monday, reaching $173.53. The company’s stock had a trading volume of 10,550,206 shares, compared to its average volume of 15,246,486. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market cap of $185.30 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.88 and a beta of 1.65. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The business has a 50-day moving average price of $175.25 and a 200-day moving average price of $180.01.
Qualcomm (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period last year, the company posted $2.77 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts predict that Qualcomm Incorporated will post 7.74 EPS for the current year.
Insider Buying and Selling at Qualcomm
In related news, EVP Akash Palkhiwala sold 2,500 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $182.85, for a total value of $457,125.00. Following the completion of the transaction, the executive vice president owned 18,184 shares of the company’s stock, valued at $3,324,944.40. This represents a 12.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares of the company’s stock, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,958 shares of company stock worth $5,760,494 over the last 90 days. 0.05% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on QCOM shares. Rosenblatt Securities restated a “buy” rating and issued a $235.00 target price on shares of Qualcomm in a research report on Wednesday, September 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research report on Monday, September 21st. Sanford C. Bernstein reissued a “market perform” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Monness Crespi & Hardt upgraded shares of Qualcomm to a “buy” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley cut their target price on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $204.10.
Get Our Latest Research Report on Qualcomm
Qualcomm Company Profile
Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.
Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.
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