Qualcomm Incorporated $QCOM Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Qualcomm stake by 54.6% in the second quarter, buying 32,368 additional shares and bringing its holdings to 91,681 shares valued at approximately $16.9 million. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm reported quarterly revenue of $9.95 billion, above estimates of $9.69 billion, but earnings per share of $2.21 narrowly missed expectations and revenue declined 4% year over year.
• The company declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 and a 2.3% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $203.63 versus the reported share price of $162.17.

Assenagon Asset Management S.A. grew its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 54.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,681 shares of the wireless technology company's stock after purchasing an additional 32,368 shares during the period. Assenagon Asset Management S.A.'s holdings in Qualcomm were worth $16,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of Qualcomm by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Qualcomm by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Qualcomm by 44.3% during the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock worth $530,000 after buying an additional 1,020 shares during the period. Main Street Financial Solutions LLC increased its stake in shares of Qualcomm by 6.1% during the second quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock worth $920,000 after buying an additional 333 shares during the period. Finally, Transamerica Financial Advisors LLC raised its holdings in Qualcomm by 9.7% in the second quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Stock Performance

NASDAQ QCOM opened at $162.17 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a market capitalization of $170.32 billion, a PE ratio of 18.77, a P/E/G ratio of 15.41 and a beta of 1.65. The company has a fifty day moving average of $188.58 and a two-hundred day moving average of $167.59.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its 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). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. During the same quarter last year, the firm posted $2.77 EPS. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, analysts expect that Qualcomm Incorporated will post 7.78 earnings per share for the current year.

Qualcomm Announces Dividend

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

Insider Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares of the company's stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Qualcomm stock in a transaction 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 9,029 shares of company stock valued at $1,583,195 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QCOM shares. DZ Bank upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price target for the company in a research note on Friday, June 26th. BNP Paribas Exane lowered shares of Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Melius Research set a $220.00 price objective on shares of Qualcomm in a research report on Monday, May 18th. Argus set a $220.00 target price on shares of Qualcomm in a research note on Friday, May 1st. Finally, Rosenblatt Securities dropped their target price on Qualcomm from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty-one have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Qualcomm currently has a consensus rating of "Hold" and an average target price of $203.63.

About Qualcomm

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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