Hardy Reed LLC Sells 6,160 Shares of Qualcomm Incorporated $QCOM

Key Points

• Hardy Reed LLC cut its Qualcomm stake by 72.2% in the first quarter, selling 6,160 shares and leaving it with 2,368 shares valued at about $305,000.
• Qualcomm recently reported better-than-expected quarterly earnings, posting $2.65 EPS versus the $2.56 estimate, while revenue came in essentially in line at $10.60 billion.
• The company also authorized a $20 billion share buyback, and analysts currently rate the stock a consensus “Hold” with an average target price of $220.45.

Hardy Reed LLC trimmed its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 72.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,368 shares of the wireless technology company's stock after selling 6,160 shares during the quarter. Hardy Reed LLC's holdings in Qualcomm were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors boosted its position in shares of Qualcomm by 14.3% in the fourth quarter. World Investment Advisors now owns 64,911 shares of the wireless technology company's stock valued at $11,103,000 after acquiring an additional 8,130 shares during the period. MUFG Securities EMEA plc increased its holdings in Qualcomm by 112.2% during the 4th quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock worth $7,524,000 after acquiring an additional 23,262 shares during the period. Swedbank AB increased its holdings in Qualcomm by 1.5% during the 4th quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock worth $262,291,000 after acquiring an additional 23,110 shares during the period. NBC Securities Inc. lifted its stake in Qualcomm by 47.5% in the 4th quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock worth $3,197,000 after purchasing an additional 6,018 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Qualcomm by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock worth $24,578,000 after purchasing an additional 7,804 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Qualcomm Stock Performance

Qualcomm stock opened at $176.25 on Monday. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The stock has a market cap of $185.77 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 5.24 and a beta of 1.63. The firm's fifty day moving average price is $205.65 and its 200-day moving average price is $167.87.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.09. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities research analysts expect that Qualcomm Incorporated will post 7.96 earnings per share for the current fiscal year.

Qualcomm announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the company's stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $130.34, for a total value of $325,850.00. Following the completion of the sale, the executive vice president owned 30,684 shares of the company's stock, valued at $3,999,352.56. This represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,721 shares of company stock valued at $3,918,290 over the last quarter. 0.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QCOM shares. Daiwa Securities Group upgraded shares of Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price target for the company in a research report on Friday, May 8th. HSBC initiated coverage on Qualcomm in a research report on Friday, May 8th. They issued a "buy" rating on the stock. Guggenheim set a $200.00 target price on Qualcomm in a research report on Monday, June 22nd. Barclays upgraded Qualcomm from an "underweight" rating to an "overweight" rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. raised their price target on Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Qualcomm presently has an average rating of "Hold" and a consensus target price of $220.45.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.