New York Life Investment Management LLC boosted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,953 shares of the wireless technology company’s stock after acquiring an additional 8,166 shares during the quarter. New York Life Investment Management LLC’s holdings in Qualcomm were worth $33,119,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gen Wealth Partners Inc lifted its position in Qualcomm by 12.8% in the third quarter. Gen Wealth Partners Inc now owns 1,869 shares of the wireless technology company’s stock valued at $344,000 after buying an additional 212 shares during the last quarter. 71 West Capital Partners increased its position in shares of Qualcomm by 28.3% during the third quarter. 71 West Capital Partners now owns 6,043 shares of the wireless technology company’s stock valued at $1,112,000 after acquiring an additional 1,332 shares during the last quarter. Nemes Rush Group LLC increased its position in shares of Qualcomm by 0.4% during the third quarter. Nemes Rush Group LLC now owns 137,715 shares of the wireless technology company’s stock valued at $25,345,000 after acquiring an additional 570 shares during the last quarter. United Capital Management of KS Inc. increased its position in shares of Qualcomm by 5.6% during the third quarter. United Capital Management of KS Inc. now owns 12,171 shares of the wireless technology company’s stock valued at $2,240,000 after acquiring an additional 646 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Qualcomm by 88.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 1,953,123 shares of the wireless technology company’s stock valued at $359,452,000 after acquiring an additional 916,849 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.
More Qualcomm News
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
Qualcomm Price Performance
Qualcomm stock opened at $173.53 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The firm has a market cap of $185.68 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.71 and a beta of 1.70. The company’s 50 day moving average is $178.31 and its two-hundred day moving average is $169.68.
Qualcomm (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping 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 business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the previous year, the firm posted $3.00 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts expect that Qualcomm Incorporated will post 7.15 EPS for the current fiscal year.
Qualcomm Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. Qualcomm’s dividend payout ratio (DPR) is 28.98%.
Insider Transactions at Qualcomm
In related news, EVP Ann Chaplin sold 1,827 shares of the business’s stock in a transaction on Friday, October 16th. The stock was 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 $4,503,307.50. The trade was a 6.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% 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 a total of 32,520 shares of company stock valued at $6,101,411 in the last 90 days. Insiders own 0.05% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a report on Monday, November 2nd. TD Cowen dropped their target price on shares of Qualcomm from $200.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, November 5th. JPMorgan Chase & Co. cut their target price on Qualcomm from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. Oppenheimer set a $200.00 target price on Qualcomm in a research report on Monday, July 27th. Finally, Rosenblatt Securities decreased their price target on Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. 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 issued a Sell rating to the company. Based on data from MarketBeat, Qualcomm presently has a consensus rating of “Hold” and a consensus target price of $197.13.
View Our Latest Stock Analysis on Qualcomm
Qualcomm 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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