Connor Clark & Lunn Investment Management Ltd. Acquires 427,174 Shares of Qualcomm Incorporated $QCOM

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 61.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,118,392 shares of the wireless technology company’s stock after acquiring an additional 427,174 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of Qualcomm worth $206,668,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of QCOM. BlackRock Inc. bought a new position in shares of Qualcomm in the 2nd quarter valued at $17,583,115,000. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP grew its position in 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 worth $2,861,301,000 after acquiring an additional 4,290,622 shares during the last quarter. Norges Bank acquired a new position in Qualcomm in the 4th quarter worth about $2,591,056,000. Finally, Amundi increased its holdings in Qualcomm by 9.9% in 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. Institutional investors and hedge funds own 74.35% of the company’s stock.

Qualcomm Stock Down 1.4%

Shares of QCOM opened at $158.53 on Tuesday. The stock’s 50-day moving average price is $177.01 and its two-hundred day moving average price is $168.20. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The company has a market capitalization of $166.49 billion, a PE ratio of 18.35, a PEG ratio of 14.84 and a beta of 1.65. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. During the same period in the previous year, the company posted $2.77 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is currently 42.59%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Oppenheimer set a $200.00 price target on Qualcomm in a research note on Monday, July 27th. Monness Crespi & Hardt raised Qualcomm to a “buy” rating in a research note on Thursday, June 25th. Wells Fargo & Company dropped their price objective on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Citigroup cut their target price on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America boosted their target price on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $203.63.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president owned 36,535 shares in the company, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the transaction, the executive vice president owned 20,684 shares in the company, valued at $3,376,869.84. This trade represents a 10.78% decrease in their position. 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. In the last 90 days, insiders sold 11,325 shares of company stock valued at $1,925,859. 0.05% of the stock is currently owned by company insiders.

About Qualcomm

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.