StoneRidge PMG Advisors LLC Makes New Investment in Qualcomm Incorporated $QCOM

StoneRidge PMG Advisors LLC acquired a new position in Qualcomm Incorporated (NASDAQ:QCOM) in the third quarter, Holdings Channel.com reports. The firm acquired 6,521 shares of the wireless technology company’s stock, valued at approximately $1,200,000. Qualcomm accounts for approximately 0.8% of StoneRidge PMG Advisors LLC’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also added to or reduced their stakes in QCOM. JFS Wealth Advisors LLC lifted its stake in shares of Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock valued at $295,000 after acquiring an additional 53 shares during the last quarter. Canopy Partners LLC lifted its holdings in Qualcomm by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company’s stock worth $763,000 after buying an additional 56 shares during the period. Wall Street Financial Group Inc. lifted its holdings in Qualcomm by 1.9% in the 2nd quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock worth $564,000 after buying an additional 57 shares during the period. Sunbeam Capital Management LLC grew its position in shares of Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock worth $303,000 after buying an additional 58 shares during the last quarter. Finally, LaFleur & Godfrey LLC grew its position in shares of Qualcomm by 3.6% in the 3rd quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company’s stock worth $305,000 after buying an additional 58 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Transactions at Qualcomm

In related news, EVP Ann C. Chaplin sold 1,827 shares of the company’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the sale, the executive vice president directly owned 25,770 shares of the company’s stock, valued at $4,503,307.50. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total value of $457,125.00. Following the completion of the transaction, the executive vice president owned 18,184 shares of the company’s stock, valued at approximately $3,324,944.40. This trade represents a 12.09% decrease in their position. 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 quarter, insiders have sold 31,820 shares of company stock worth $5,980,217. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Zacks Research lowered Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Robert W. Baird set a $320.00 price target on shares of Qualcomm in a report on Thursday. Finally, HSBC reissued a “hold” rating on shares of Qualcomm in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $197.55.

Qualcomm Price Performance

QCOM stock opened at $165.41 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The firm has a 50-day moving average of $178.11 and a 200 day moving average of $169.52. The company has a market cap of $176.99 billion, a P/E ratio of 13.02, a PEG ratio of 2.61 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The business had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same period in the previous year, the firm posted $3.00 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is presently 28.98%.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.