Stoneridge Investment Partners LLC Purchases New Position in Qualcomm Incorporated $QCOM

Key Points

• Stoneridge Investment Partners acquired 7,089 Qualcomm shares worth approximately $1.05 million in the second quarter, making Qualcomm its 29th-largest holding. Institutional investors collectively own 74.35% of QCOM.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with an average price target of $203.63; UBS, Cantor Fitzgerald and Wells Fargo recently lowered their targets, while Tigress Financial raised its target to $280.
• Qualcomm reported quarterly revenue of $9.95 billion, ahead of estimates, but EPS of $2.21 slightly missed expectations and revenue declined 4% year over year. The company also announced a quarterly dividend of $0.92 per share, representing a 2.3% yield.

Stoneridge Investment Partners LLC acquired a new position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,089 shares of the wireless technology company's stock, valued at approximately $1,046,000. Qualcomm accounts for about 0.7% of Stoneridge Investment Partners LLC's holdings, making the stock its 29th largest position.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Qualcomm by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after acquiring an additional 647,076 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock valued at $4,931,968,000 after purchasing an additional 3,221,924 shares during the period. Wellington Management Group LLP raised its stake in shares of Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock valued at $2,861,301,000 after purchasing an additional 4,290,622 shares during the period. Norges Bank purchased a new stake in Qualcomm during the 4th quarter worth about $2,591,056,000. Finally, Amundi lifted its holdings in Qualcomm by 9.9% during the 3rd quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock worth $2,136,486,000 after purchasing an additional 1,138,541 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. UBS Group reduced their target price on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Cantor Fitzgerald lowered their price target on shares of Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Wells Fargo & Company cut their price objective on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. Zacks Research raised shares of Qualcomm from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Tigress Financial upped their target price on shares of Qualcomm from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Qualcomm currently has a consensus rating of "Hold" and an average target price of $203.63.

Qualcomm Stock Performance

NASDAQ QCOM opened at $160.19 on Wednesday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a fifty day moving average of $180.71 and a 200-day moving average of $167.93. The company has a market capitalization of $168.24 billion, a P/E ratio of 18.54, a P/E/G ratio of 15.25 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the prior year, the company earned $2.77 EPS. The firm's 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. As a group, equities research analysts predict that Qualcomm Incorporated will post 7.76 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently disclosed 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 42.59%.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was 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 approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,529 shares of company stock worth $1,991,345. 0.05% of the stock is currently owned by insiders.

Qualcomm Company 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.

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