Proficio Capital Partners LLC Buys New Position in Qualcomm Incorporated $QCOM

Key Points

• Proficio Capital Partners acquired 9,836 Qualcomm shares worth approximately $1.82 million during the second quarter. Institutional investors collectively own 74.35% of Qualcomm’s outstanding stock.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell; the consensus rating is Hold, with an average price target of $203.76.
• Qualcomm reported quarterly revenue of $9.95 billion, above estimates, but earnings of $2.21 per share narrowly missed expectations and revenue declined 4% year over year. The company also declared a $0.92 quarterly dividend, equivalent to a 2.2% annualized yield.

Proficio Capital Partners LLC bought a new stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,836 shares of the wireless technology company's stock, valued at approximately $1,818,000.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Baxter Bros Inc. acquired a new position in shares of Qualcomm during the 2nd quarter worth approximately $17,844,000. MUFG Securities EMEA plc grew its stake in shares of Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock valued at $7,524,000 after buying an additional 23,262 shares in the last quarter. Swedbank AB raised its position in Qualcomm by 1.5% during the fourth 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 in the last quarter. Sequoia Financial Advisors LLC raised its position in Qualcomm by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock worth $24,578,000 after acquiring an additional 7,804 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in Qualcomm by 6.1% in the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company's stock valued at $6,844,000 after acquiring an additional 2,288 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QCOM. Mizuho boosted their price objective on shares of Qualcomm from $170.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, June 29th. Royal Bank Of Canada cut their price objective on shares of Qualcomm from $250.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, July 30th. DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price target for the company in a report on Friday, June 26th. Oppenheimer set a $200.00 price target on Qualcomm in a research note on Monday, July 27th. Finally, Lake Street Capital cut Qualcomm to a "hold" rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $203.76.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $163.72 on Thursday. The stock has a fifty day moving average price of $174.96 and a 200-day moving average price of $168.48. The company has a market cap of $171.94 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 14.82 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, equities analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Announces Dividend

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 $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's dividend payout ratio (DPR) is currently 42.59%.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total value of $452,025.00. Following the transaction, the executive vice president owned 23,184 shares in the company, valued at $4,191,899.04. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares of the company's stock, valued at $5,372,106.40. This trade represents a 8.05% decrease in their position. 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 11,325 shares of company stock worth $1,925,859 over the last three months. Corporate insiders own 0.05% of the company's stock.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source