Qualcomm Incorporated $QCOM Stock: Calamos Advisors LLC Increases Holdings

Key Points

• Calamos Advisors increased its Qualcomm stake 2.1% in the third quarter, to 207,915 shares valued at about $38.3 million; institutional investors own 74.35% of the stock.
• Qualcomm’s latest quarterly EPS and revenue slightly beat analyst estimates, but revenue fell 8.4% year over year. Shares rose 5.5% on Friday to $165.41.
• Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to a 2.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $197.55.

Calamos Advisors LLC grew its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 207,915 shares of the wireless technology company's stock after acquiring an additional 4,251 shares during the period. Calamos Advisors LLC's holdings in Qualcomm were worth $38,265,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QCOM. BlackRock Inc. acquired a new position in shares of Qualcomm in the 2nd quarter valued at $17,583,115,000. State Street Corp raised its holdings in Qualcomm by 1.3% during the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company's stock worth $9,750,123,000 after buying an additional 671,537 shares during the period. Van ECK Associates Corp raised its holdings in Qualcomm by 22.7% during the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock worth $3,178,872,000 after buying an additional 3,179,720 shares during the period. Amundi lifted its stake in Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock valued at $1,884,071,000 after buying an additional 4,942,908 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Qualcomm during the second quarter valued at about $1,523,930,000. 74.35% of the stock is owned by institutional investors.

Qualcomm Stock Up 5.5%

NASDAQ:QCOM traded up $8.66 on Friday, hitting $165.41. 19,678,727 shares of the company's stock traded hands, compared to its average volume of 10,479,039. The company has a market cap of $176.63 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 3.65 and a beta of 1.70. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $178.11 and a 200-day moving average price of $169.52.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.01. The business had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm's revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. Equities analysts anticipate that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.

Qualcomm Announces Dividend

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

Insider Activity at Qualcomm

In related news, EVP Ann C. Chaplin sold 1,501 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $161.54, for a total transaction of $242,471.54. Following the completion of the sale, the executive vice president directly owned 27,271 shares in the company, valued at approximately $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the sale, the chief executive officer owned 177,568 shares of the company's stock, valued at approximately $35,513,600. This represents a 5.33% decrease in their ownership of the stock. 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 sold 31,820 shares of company stock worth $5,980,217. Corporate insiders own 0.05% of the company's stock.

Trending Headlines about 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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QCOM shares. Morgan Stanley dropped their target price on shares of Qualcomm from $231.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Citigroup reduced their price target on shares of Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Cantor Fitzgerald decreased their price objective on shares of Qualcomm from $200.00 to $165.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Arete Research raised shares of Qualcomm to a "strong-buy" rating in a research note on Friday, October 16th. Finally, HSBC reiterated a "hold" rating on shares of Qualcomm in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have given 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 price target of $197.55.

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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