Strs Ohio Sells 58,109 Shares of Qualcomm Incorporated $QCOM

Key Points

• Strs Ohio cut its Qualcomm stake by 17.4% in the first quarter, selling 58,109 shares and leaving it with 276,702 shares valued at about $35.6 million.
• Several large institutional investors remain heavily invested in Qualcomm, and 74.35% of the stock is now held by institutions overall.
• Qualcomm reported quarterly EPS of $2.65, beating estimates, and its board approved a $20 billion share buyback; analysts currently rate the stock a consensus Hold with an average target of $220.45.

Strs Ohio reduced its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,702 shares of the wireless technology company's stock after selling 58,109 shares during the period. Strs Ohio's holdings in Qualcomm were worth $35,634,000 as of its most recent SEC filing.

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

Insider Transactions at Qualcomm

In other news, CAO Patricia Y. Grech sold 829 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Monday, April 13th. The stock was sold at an average price of $130.34, for a total value of $325,850.00. Following the completion of the sale, the executive vice president directly owned 30,684 shares of the company's stock, valued at $3,999,352.56. The trade was a 7.53% decrease in their position. 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 sold 21,721 shares of company stock valued at $3,918,290 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

Qualcomm Price Performance

QCOM opened at $176.25 on Friday. The stock has a market capitalization of $185.77 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 5.24 and a beta of 1.63. The firm has a 50 day moving average price of $205.65 and a 200-day moving average price of $167.95. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.59 billion. During the same quarter last year, the company posted $2.85 earnings per share. The firm's quarterly revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Equities research analysts forecast that Qualcomm Incorporated will post 7.96 earnings per share for the current year.

Qualcomm announced that its board has approved a stock buyback plan on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to buy up to 14.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QCOM shares. Sanford C. Bernstein raised their price target on shares of Qualcomm from $140.00 to $235.00 and gave the company a "market perform" rating in a research report on Thursday, June 25th. TD Cowen reiterated a "buy" rating and set a $200.00 target price on shares of Qualcomm in a research note on Thursday, June 25th. Robert W. Baird set a $300.00 target price on Qualcomm in a report on Friday, May 1st. HSBC began coverage on Qualcomm in a research note on Friday, May 8th. They issued a "buy" rating for the company. Finally, Argus set a $220.00 price target on Qualcomm in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $220.45.

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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