Shellback Capital LP Invests $20.22 Million in QUALCOMM Incorporated $QCOM

Key Points

• Shellback Capital LP has made a new investment in QUALCOMM, acquiring 131,598 shares valued at approximately $20.22 million, which accounts for 2.0% of its total holdings.
• Several institutional investors are increasing their stakes in QUALCOMM, including Brighton Jones LLC, which grew its position by 116.6% in the last quarter.
• Analysts have varied opinions on QUALCOMM's stock, with price targets ranging from $165.00 to $200.00, reflecting a consensus rating of "Moderate Buy."

Shellback Capital LP bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 131,598 shares of the wireless technology company's stock, valued at approximately $20,215,000. QUALCOMM comprises approximately 2.0% of Shellback Capital LP's investment portfolio, making the stock its 19th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its position in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 93 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter valued at $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Mizuho decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. UBS Group lifted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 791 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the sale, the chief accounting officer owned 1,106 shares in the company, valued at approximately $171,230.92. The trade was a 41.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,626 shares of company stock worth $1,948,054. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 1.0%

Shares of QCOM stock traded down $1.58 during trading hours on Tuesday, reaching $158.66. 6,118,504 shares of the company's stock were exchanged, compared to its average volume of 8,312,030. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $171.19 billion, a PE ratio of 15.30, a PEG ratio of 2.32 and a beta of 1.21. The stock's fifty day moving average price is $156.49 and its two-hundred day moving average price is $152.00.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the business earned $2.33 EPS. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.