Summa Corp. Lowers Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Summa Corp. has reduced its stake in QUALCOMM Incorporated by 15.3%, holding 34,000 shares valued at approximately $5.41 million after selling 6,122 shares in the second quarter.
• Significant recent transactions include OVERSEA CHINESE BANKING Corp Ltd increasing its position in QUALCOMM by 565%, bringing its holdings to 124,327 shares valued at about $19.1 million.
• QUALCOMM's stock has received a mix of ratings from analysts, with an average rating of "Moderate Buy" and a price target of around $182.82.

Summa Corp. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,000 shares of the wireless technology company's stock after selling 6,122 shares during the quarter. QUALCOMM accounts for 2.8% of Summa Corp.'s portfolio, making the stock its 4th biggest holding. Summa Corp.'s holdings in QUALCOMM were worth $5,415,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors increased its position in QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after acquiring an additional 321 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after acquiring an additional 6,017 shares during the last quarter. Russell Investments Group Ltd. increased its position in QUALCOMM by 12.3% during the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after acquiring an additional 145,509 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in QUALCOMM by 0.5% during the first quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company's stock valued at $3,713,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Patricia Y. Grech sold 273 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the transaction, the chief accounting officer directly owned 404 shares of the company's stock, valued at approximately $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,767 shares of company stock valued at $26,322,745 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. Arete upgraded QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a research report on Tuesday, August 26th. Weiss Ratings restated a "hold (c+)" rating on shares of QUALCOMM in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, July 31st. Finally, Citigroup restated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. One 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 given a Sell rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and an average price target of $182.82.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.64 on Friday. The firm has a market cap of $165.77 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $160.39 and a 200-day moving average price of $153.45. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The firm's revenue was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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.

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