China Universal Asset Management Co. Ltd. Sells 7,696 Shares of Qualcomm Incorporated $QCOM

Key Points

• China Universal Asset Management reduced its Qualcomm stake by 16.8%, selling 7,696 shares and retaining 37,987 shares valued at approximately $6.99 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding estimates, but its $2.21 EPS missed consensus and revenue declined 4% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $205.83.
• The company declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 payout and a 2.0% yield. Qualcomm’s stock was trading at $185.41, with a market capitalization near $198 billion.

China Universal Asset Management Co. Ltd. trimmed its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 16.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,987 shares of the wireless technology company's stock after selling 7,696 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Qualcomm were worth $6,993,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Qualcomm during the 2nd quarter worth $17,583,115,000. State Street Corp increased its stake in shares of Qualcomm by 1.3% in the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company's stock valued at $9,750,123,000 after buying an additional 671,537 shares during the period. Van ECK Associates Corp increased its stake in shares of 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. Amundi increased its stake in shares of 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, Bank of New York Mellon Corp bought a new stake in shares of Qualcomm during the second quarter worth $1,523,930,000. Institutional investors own 74.35% of the company's stock.

Qualcomm Trading Up 1.3%

NASDAQ QCOM opened at $185.41 on Friday. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The stock has a 50-day simple moving average of $177.75 and a 200 day simple moving average of $169.46. 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 company has a market capitalization of $197.99 billion, a PE ratio of 20.70, a P/E/G ratio of 4.12 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. Qualcomm's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.77 EPS. Research analysts forecast that Qualcomm Incorporated will post 7.71 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. Qualcomm's payout ratio is currently 42.59%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on QCOM shares. Evercore set a $159.00 price target on Qualcomm in a research note on Thursday, July 30th. Citigroup lowered their price objective on Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Barclays restated an "underweight" rating on shares of Qualcomm in a research report on Wednesday, September 9th. KeyCorp restated a "sector weight" rating on shares of Qualcomm in a research report on Wednesday, September 9th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 target price on shares of Qualcomm in a research note on Wednesday, September 9th. Three research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $205.83.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s investment case is broadening beyond smartphones. Recent coverage highlighted a 61% surge in automotive revenue, record automotive sales, and two hyperscaler custom-silicon agreements that could create longer-term growth in AI data centers and edge computing. Qualcomm Stock Has an AI Opportunity Most Nvidia Investors May Be Overlooking Qualcomm Automotive Revenue Hits Record
• Positive Sentiment: Ariel Global Fund identified Qualcomm as offering potential across AI, automotive, and edge computing. That view suggests some institutional investors see the shares as undervalued if these businesses reduce the company’s dependence on handset demand. Qualcomm Offers AI, Automotive, and Edge-Computing Growth Potential
• Neutral Sentiment: Analyst coverage comparing Qualcomm with IBM emphasized that both companies are pursuing AI growth, but differing valuations, competitive pressures, and execution prospects leave the relative upside uncertain. IBM vs. Qualcomm: Which AI Tech Giant Has More Upside Now?
• Neutral Sentiment: Technical coverage noted that QCOM reclaimed an important price level and edged higher, but questioned whether the move can hold without stronger fundamental confirmation. Qualcomm Reclaims a Key Level
• Negative Sentiment: Qualcomm’s upcoming fiscal fourth-quarter report is expected to show declining earnings, creating a near-term catalyst risk. The company’s latest quarter already included an earnings-per-share miss and a 4% year-over-year revenue decline, despite revenue exceeding expectations. Qualcomm Q4 Earnings Expected to Decline
• Negative Sentiment: Weak guidance from automotive-chip supplier NXP revived concerns about slowing auto-chip demand, pressuring semiconductor stocks including Qualcomm. Soft Guidance Revives Auto Chip Worries

Insider Transactions at Qualcomm

In other news, EVP Ann C. Chaplin sold 1,827 shares of Qualcomm stock in a transaction 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 transaction, the executive vice president directly owned 25,770 shares of the company's stock, valued at $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The sale 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, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total transaction of $437,650.00. Following the completion of the transaction, the executive vice president directly owned 20,799 shares of the company's stock, valued at $3,641,072.94. This trade represents a 10.73% 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. In the last three months, insiders have sold 33,458 shares of company stock valued at $6,198,144. Corporate insiders own 0.05% of the company's stock.

About Qualcomm

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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