SFE Investment Counsel Makes New Investment in Qualcomm Incorporated $QCOM

Key Points

• SFE Investment Counsel acquired 92,200 Qualcomm shares worth approximately $17.0 million during the second quarter, making QCOM its 10th-largest holding and 2.3% of its portfolio. Institutional investors collectively own 74.35% of Qualcomm.
• Analyst sentiment remains mixed: Qualcomm has a consensus “Hold” rating and an average price target of $203.63, despite several recent upgrades and target changes.
• Qualcomm’s latest quarterly revenue of $9.95 billion exceeded estimates, but EPS slightly missed expectations and revenue declined 4% year over year. The company declared a quarterly dividend of $0.92 per share, representing a 2.3% yield.

SFE Investment Counsel acquired a new stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 92,200 shares of the wireless technology company's stock, valued at approximately $17,038,000. Qualcomm makes up approximately 2.3% of SFE Investment Counsel's portfolio, making the stock its 10th biggest position.

A number of other hedge funds also recently made changes to their positions in QCOM. Your Advocates Ltd. LLP purchased a new position in shares of Qualcomm in the first quarter valued at $26,000. Torren Management LLC purchased a new stake in Qualcomm during the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its stake in Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after buying an additional 170 shares during the period. Birchwood Financial Partners Inc. acquired a new position in Qualcomm in the 4th quarter worth $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in Qualcomm in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In related news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares in the company, valued at $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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the transaction, the executive vice president directly owned 20,684 shares of the company's stock, valued at $3,376,869.84. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,529 shares of company stock valued at $1,991,345 in the last quarter. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Freedom Capital raised shares of Qualcomm from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Rosenblatt Securities cut their price target on Qualcomm from $265.00 to $235.00 and set a "buy" rating on the stock in a research note 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. Bank of America raised their price objective on Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a research note on Tuesday, June 23rd. Finally, Citigroup dropped their price objective on Qualcomm from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Qualcomm currently has a consensus rating of "Hold" and a consensus price target of $203.63.

Qualcomm Trading Down 1.2%

Shares of NASDAQ QCOM opened at $160.19 on Wednesday. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a market cap of $168.24 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 15.25 and a beta of 1.65. 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 stock's 50 day simple moving average is $180.71 and its 200 day simple moving average is $167.93.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the previous year, the company earned $2.77 earnings per share. Qualcomm's quarterly revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities research analysts expect that Qualcomm Incorporated will post 7.76 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. Qualcomm's dividend payout ratio is currently 42.59%.

Qualcomm 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.

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