Penserra Capital Management LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Penserra Capital Management LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,214 shares of the wireless technology company's stock after buying an additional 26,010 shares during the period. Penserra Capital Management LLC's holdings in QUALCOMM were worth $18,311,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 3.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after purchasing an additional 6,017 shares during the period. Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. First Foundation Advisors boosted its holdings in shares of QUALCOMM by 41.2% in the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after purchasing an additional 45,769 shares during the period. Finally, Kanawha Capital Management LLC boosted its holdings in shares of QUALCOMM by 1.9% in the first quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after purchasing an additional 1,573 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QCOM. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $162.11 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The firm has a market capitalization of $177.99 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The business's 50 day moving average price is $151.32 and its 200-day moving average price is $154.94.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 425,016 shares of company stock worth $8,437,440 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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