Fulcrum Asset Management LLP Acquires 6,264 Shares of Qualcomm Incorporated $QCOM

Key Points

• Fulcrum Asset Management increased its Qualcomm stake by 154.4% in the third quarter, buying 6,264 shares to bring its holdings to 10,322 shares, valued at about $1.9 million.
• Qualcomm reported quarterly EPS of $2.17 and revenue of $10.44 billion, both slightly above analyst estimates, though revenue fell 8.4% year over year. It also declared a quarterly dividend of $0.92 per share.
• Qualcomm’s growth outlook is mixed: record automotive revenue and expected growth in non-handset businesses may offset smartphone weakness, while handset revenue declines and margin concerns contributed to a consensus analyst rating of Hold.

Fulcrum Asset Management LLP lifted its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 154.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,322 shares of the wireless technology company's stock after purchasing an additional 6,264 shares during the quarter. Fulcrum Asset Management LLP's holdings in Qualcomm were worth $1,900,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Mizuho Securities Co. Ltd. acquired a new position in shares of Qualcomm during the third quarter worth about $35,000. StoneRidge PMG Advisors LLC bought a new stake in Qualcomm in the 3rd quarter valued at approximately $1,200,000. Burton Enright Welch bought a new stake in Qualcomm in the 3rd quarter valued at approximately $276,000. Carret Asset Management LLC boosted its position in Qualcomm by 17.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,861 shares of the wireless technology company's stock worth $1,631,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Almanack Investment Partners LLC. boosted its position in Qualcomm by 2.0% during the 3rd quarter. Almanack Investment Partners LLC. now owns 4,697 shares of the wireless technology company's stock worth $864,000 after acquiring an additional 92 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $165.42, for a total transaction of $529,344.00. Following the transaction, the executive vice president owned 39,379 shares of the company's stock, valued at $6,514,074.18. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 208 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $170.00, for a total value of $35,360.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,520 shares of company stock worth $6,101,411 in the last three months. Insiders own 0.05% of the company's stock.

Key Stories Impacting Qualcomm

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 Trading Up 1.2%

Shares of Qualcomm stock opened at $173.53 on Wednesday. The stock has a market cap of $185.68 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.71 and a beta of 1.70. 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 12-month low of $121.99 and a 12-month high of $259.92. The business's 50 day moving average is $178.31 and its 200-day moving average is $169.68.

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, topping analysts' consensus estimates of $2.16 by $0.01. The business had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 earnings per share. Equities research analysts predict that Qualcomm Incorporated will post 7.15 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm's dividend payout ratio is presently 28.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QCOM shares. KeyCorp reiterated a "sector weight" rating on shares of Qualcomm in a report on Wednesday, September 9th. Susquehanna decreased their target price on shares of Qualcomm from $185.00 to $165.00 and set a "neutral" rating for the company in a research report on Thursday, November 5th. Sanford C. Bernstein lowered their price target on shares of Qualcomm from $165.00 to $155.00 and set a "market perform" rating on the stock in a research note on Monday, November 2nd. Arete Research raised shares of Qualcomm to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Cantor Fitzgerald cut their price target on shares of Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Qualcomm presently has a consensus rating of "Hold" and a consensus price target of $197.13.

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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