Formula Growth Ltd. Buys New Stake in Qualcomm Incorporated $QCOM

Formula Growth Ltd. bought a new stake in Qualcomm Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,200 shares of the wireless technology company’s stock, valued at approximately $776,000.

A number of other large investors also recently added to or reduced their stakes in QCOM. MASTERINVEST Kapitalanlage GmbH grew its position in Qualcomm by 10.7% in the 2nd quarter. MASTERINVEST Kapitalanlage GmbH now owns 24,176 shares of the wireless technology company’s stock valued at $4,467,000 after acquiring an additional 2,331 shares in the last quarter. Jacobs Equity LLC increased its stake in Qualcomm by 19.4% during the second quarter. Jacobs Equity LLC now owns 2,467 shares of the wireless technology company’s stock worth $456,000 after purchasing an additional 400 shares during the period. Redwood Investment Management LLC acquired a new stake in shares of Qualcomm during the second quarter worth about $1,202,000. Proficio Capital Partners LLC acquired a new stake in shares of Qualcomm during the second quarter worth about $1,818,000. Finally, Pure Financial Advisors LLC boosted its stake in shares of Qualcomm by 9.3% in the second quarter. Pure Financial Advisors LLC now owns 27,280 shares of the wireless technology company’s stock valued at $5,041,000 after purchasing an additional 2,325 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Rosenblatt Securities dropped their price objective on shares of Qualcomm from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 30th. DZ Bank upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price target on shares of Qualcomm in a research report on Thursday, April 30th. Evercore set a $159.00 price target on shares of Qualcomm in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald cut their price objective on Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Qualcomm has an average rating of “Hold” and an average price target of $203.76.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $164.78 on Friday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The company has a market cap of $173.06 billion, a PE ratio of 19.07, a P/E/G ratio of 15.11 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The business has a 50-day simple moving average of $173.73 and a 200-day simple moving average of $168.67.

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

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio is currently 42.59%.

Insider Buying and Selling at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction 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. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the transaction, the chief accounting officer directly owned 208 shares in the company, valued at $33,872.80. This trade represents a 75.03% 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 three months, insiders have sold 11,325 shares of company stock valued at $1,925,859. Insiders own 0.05% of the company’s stock.

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.