Qualcomm Incorporated $QCOM Stock Acquired by Candriam S.C.A.

Key Points

• Candriam increased its Qualcomm stake by 24.7% in the third quarter, adding 21,162 shares to bring its holdings to 106,704 shares, valued at about $19.7 million.
• Qualcomm slightly beat quarterly estimates, reporting $2.17 in adjusted EPS and $10.44 billion in revenue, but revenue fell 8.4% year over year and earnings declined from $3.00 per share a year earlier.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $197.55 average price target; concerns include weak profit guidance, handset softness, and rising component costs.

Candriam S.C.A. boosted its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 106,704 shares of the wireless technology company's stock after buying an additional 21,162 shares during the period. Candriam S.C.A.'s holdings in Qualcomm were worth $19,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Qualcomm in the second quarter valued at approximately $17,583,115,000. Bank of New York Mellon Corp acquired a new stake in shares of Qualcomm during the second quarter worth $1,523,930,000. Deutsche Bank AG acquired a new stake in shares of Qualcomm during the second quarter worth $1,178,349,000. Amundi raised its holdings in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock worth $1,884,071,000 after acquiring an additional 4,942,908 shares during the period. Finally, Van ECK Associates Corp lifted its position in Qualcomm by 22.7% in the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock valued at $3,178,872,000 after acquiring an additional 3,179,720 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on QCOM shares. Zacks Research lowered shares of Qualcomm from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 15th. Freedom Capital raised Qualcomm from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Cantor Fitzgerald dropped their price target on Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. The Goldman Sachs Group restated a "neutral" rating on shares of Qualcomm in a report on Thursday. Finally, HSBC reaffirmed a "hold" rating on shares of Qualcomm in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Qualcomm currently has an average rating of "Hold" and a consensus price target of $197.55.

Insider Buying and Selling at Qualcomm

In other news, CAO Patricia Grech sold 625 shares of the 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 completion of the transaction, the chief accounting officer directly owned 208 shares in the company, valued at $33,872.80. This represents a 75.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the firm's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the transaction, the executive vice president owned 25,770 shares of the company's stock, valued at $4,503,307.50. The trade was a 6.62% decrease in their position. 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 have sold 31,820 shares of company stock valued at $5,980,217. Corporate insiders own 0.05% of the company's stock.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Price Performance

NASDAQ QCOM opened at $165.41 on Monday. The firm's 50 day moving average is $178.11 and its 200-day moving average is $169.52. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $176.99 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.70. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. The business had revenue of $10.44 billion during the quarter, compared to analysts' expectations of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The firm's revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 earnings per share. Equities research analysts anticipate that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm's payout ratio is 28.98%.

Qualcomm Profile

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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