New York Life Investment Management LLC Purchases 8,166 Shares of Qualcomm Incorporated $QCOM

Key Points

• New York Life Investment Management increased its Qualcomm stake by 4.8% in the third quarter, buying 8,166 shares to hold 179,953 shares worth about $33.1 million. Institutional investors collectively own 74.35% of the company.
• Qualcomm narrowly beat quarterly earnings and revenue estimates, but revenue fell 8.4% year over year. Weakness in handset sales is a concern, while record automotive revenue and expected growth in non-handset businesses offer potential offsets.
• Analyst sentiment is mixed: the consensus rating is Hold, with a $197.13 average price target; Freedom Broker downgraded the stock and lowered its target to $185.

New York Life Investment Management LLC raised its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 4.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,953 shares of the wireless technology company's stock after buying an additional 8,166 shares during the period. 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 large investors have also modified their holdings of the company. JFS Wealth Advisors LLC increased its stake in shares of Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company's stock valued at $295,000 after purchasing an additional 53 shares in the last quarter. Canopy Partners LLC raised its holdings in Qualcomm by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company's stock worth $763,000 after purchasing an additional 56 shares during the period. Wall Street Financial Group Inc. boosted its position in Qualcomm by 1.9% during the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company's stock worth $564,000 after purchasing an additional 57 shares in the last quarter. Sunbeam Capital Management LLC boosted its position in Qualcomm by 3.7% during the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company's stock worth $303,000 after purchasing an additional 58 shares in the last quarter. Finally, LaFleur & Godfrey LLC grew its holdings in Qualcomm by 3.6% in the third quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company's stock valued at $305,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm News Summary

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

Insider Buying and Selling at Qualcomm

In other news, CAO Patricia Grech sold 625 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at approximately $33,872.80. The trade was a 75.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the company's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the sale, the executive vice president directly owned 25,770 shares of the company's stock, valued at $4,503,307.50. This represents a 6.62% 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. Over the last 90 days, insiders have sold 32,520 shares of company stock worth $6,101,411. Corporate insiders own 0.05% of the company's stock.

Qualcomm Price Performance

NASDAQ:QCOM opened at $173.53 on Wednesday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The stock has a market cap of $185.68 billion, a PE ratio of 13.66, a P/E/G ratio of 2.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. The stock has a 50 day moving average price of $178.31 and a 200 day moving average price of $169.68.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 earnings per share. Equities research analysts expect that Qualcomm Incorporated will post 7.15 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm's payout ratio is currently 28.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on QCOM shares. Robert W. Baird set a $320.00 price objective on Qualcomm in a research report on Thursday, November 5th. KeyCorp reiterated a "sector weight" rating on shares of Qualcomm in a research report on Wednesday, September 9th. Zacks Research lowered Qualcomm from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th. Royal Bank Of Canada lifted their price target on shares of Qualcomm from $160.00 to $180.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Qualcomm from $215.00 to $200.00 and set a "neutral" rating for the company in a report on Thursday, November 5th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $197.13.

About Qualcomm

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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