Sitrin Capital Management LLC Has $4.41 Million Stock Holdings in QUALCOMM Incorporated $QCOM

Sitrin Capital Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,658 shares of the wireless technology company's stock after selling 2,790 shares during the quarter. QUALCOMM comprises about 2.2% of Sitrin Capital Management LLC's portfolio, making the stock its 28th biggest position. Sitrin Capital Management LLC's holdings in QUALCOMM were worth $4,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in QUALCOMM by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock valued at $17,568,141,000 after buying an additional 638,284 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its position in QUALCOMM by 656,661.0% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock valued at $9,360,274,000 after buying an additional 58,764,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in QUALCOMM by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company's stock valued at $1,600,976,000 after buying an additional 641,654 shares in the last quarter. Invesco Ltd. increased its position in QUALCOMM by 2.2% in the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock valued at $1,512,458,000 after buying an additional 215,900 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in QUALCOMM by 5.3% in the 1st quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company's stock valued at $1,441,847,000 after buying an additional 471,648 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.4%

QCOM opened at $167.77 on Thursday. The company has a market cap of $181.02 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.41 and a beta of 1.23. The business's 50-day moving average price is $159.90 and its 200-day moving average price is $153.49. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

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

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Citigroup reissued a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Arete raised QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

Insider Transactions at QUALCOMM

In other news, CAO Patricia Y. Grech sold 201 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $170.00, for a total value of $34,170.00. Following the sale, the chief accounting officer directly owned 203 shares of the company's stock, valued at $34,510. The trade was a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the transaction, the chief financial officer owned 39,874 shares of the company's stock, valued at $6,254,635.64. This represents a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,767 shares of company stock worth $26,322,745. Company insiders own 0.08% of the company's stock.

About QUALCOMM

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.

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