Canal Capital Management LLC Grows Position in Qualcomm Incorporated $QCOM

Canal Capital Management LLC lifted its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 24.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,302 shares of the wireless technology company’s stock after purchasing an additional 13,003 shares during the quarter. Qualcomm accounts for approximately 1.1% of Canal Capital Management LLC’s portfolio, making the stock its 25th largest holding. Canal Capital Management LLC’s holdings in Qualcomm were worth $8,410,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its position in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock worth $29,000 after acquiring an additional 80 shares during the period. Torren Management LLC acquired a new stake in shares of Qualcomm during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. acquired a new position in Qualcomm in the 4th quarter worth about $31,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Qualcomm by 113.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company’s stock worth $32,000 after purchasing an additional 101 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $176.25 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a market cap of $185.77 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 5.24 and a beta of 1.63. The firm’s fifty day moving average price is $205.65 and its 200 day moving average price is $167.95. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.09. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its board has approved a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the transaction, the executive vice president owned 39,735 shares in the company, valued at approximately $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. Additional details regarding this sale are available in the official SEC disclosure. 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.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Sanford C. Bernstein raised their price objective on Qualcomm from $140.00 to $235.00 and gave the company a “market perform” rating in a report on Thursday, June 25th. Roth Mkm began coverage on Qualcomm in a research note on Friday, May 8th. They set a “buy” rating for the company. DZ Bank upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a research report on Friday, June 26th. Susquehanna lifted their price target on shares of Qualcomm from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Finally, TD Cowen reissued a “buy” rating and issued a $200.00 price target on shares of Qualcomm in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $220.45.

Qualcomm 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.