Madison Asset Management LLC Decreases Stock Holdings in Qualcomm Incorporated $QCOM

Key Points

• Madison Asset Management cut its Qualcomm position by 10.6% in the second quarter, selling 19,795 shares and retaining 166,795 shares valued at approximately $30.8 million.
• Analyst sentiment remains mixed, with Qualcomm holding a consensus “Hold” rating and an average price target of $203.63. Recent targets ranged from $175 to $265.
• Qualcomm reported quarterly revenue of $9.95 billion, ahead of estimates, but EPS of $2.21 slightly missed expectations and revenue declined 4% year over year. The company also announced a quarterly dividend of $0.92 per share, yielding about 2.3% annually.

Madison Asset Management LLC reduced its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 10.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,795 shares of the wireless technology company's stock after selling 19,795 shares during the quarter. Madison Asset Management LLC's holdings in Qualcomm were worth $30,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new stake in Qualcomm in the 1st quarter worth $26,000. Torren Management LLC bought a new position in shares of Qualcomm during the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new stake in shares of Qualcomm during the fourth quarter worth about $31,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of Qualcomm during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at Qualcomm

In related news, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total transaction of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. 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, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the sale, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,325 shares of company stock valued at $1,925,859. Corporate insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Citigroup reduced their price target on Qualcomm from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a report on Friday, June 5th. Bank of America lifted their price objective on Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a research report on Tuesday, June 23rd. Guggenheim set a $200.00 target price on Qualcomm in a research note on Monday, June 22nd. Finally, Morgan Stanley decreased their target price on Qualcomm from $231.00 to $220.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $203.63.

Qualcomm Trading Up 0.0%

Shares of QCOM opened at $160.75 on Friday. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. 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 firm's 50-day moving average price is $178.26 and its 200-day moving average price is $168.01. The firm has a market capitalization of $168.83 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly 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). 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 in the previous year, the company earned $2.77 earnings per share. Qualcomm's quarterly revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm's dividend payout ratio is 42.59%.

Qualcomm 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.

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