Soros Fund Management LLC purchased a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 70,100 shares of the wireless technology company’s stock, valued at approximately $3,934,000.

A number of other hedge funds have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. raised its position in shares of QUALCOMM by 26.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 198,742 shares of the wireless technology company’s stock valued at $11,013,000 after purchasing an additional 41,192 shares during the period. Thrivent Financial for Lutherans raised its position in shares of QUALCOMM by 2.5% in the first quarter. Thrivent Financial for Lutherans now owns 70,852 shares of the wireless technology company’s stock valued at $3,926,000 after purchasing an additional 1,738 shares during the period. Letko Brosseau & Associates Inc. bought a new position in shares of QUALCOMM in the first quarter valued at about $10,107,000. State of New Jersey Common Pension Fund D raised its position in shares of QUALCOMM by 18.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,775,000 shares of the wireless technology company’s stock valued at $98,353,000 after purchasing an additional 280,000 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of QUALCOMM by 1.3% in the first quarter. Thompson Siegel & Walmsley LLC now owns 241,185 shares of the wireless technology company’s stock valued at $13,364,000 after purchasing an additional 3,209 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.

NASDAQ:QCOM opened at $75.09 on Friday. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.04. The stock has a market cap of $105.41 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $0.83 earnings per share. QUALCOMM’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities research analysts anticipate that QUALCOMM, Inc. will post 3.11 earnings per share for the current year.

QUALCOMM declared that its board has approved a stock repurchase plan on Thursday, July 26th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the wireless technology company to purchase up to 34.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, September 4th. QUALCOMM’s dividend payout ratio is currently 65.61%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 1,306 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $67.37, for a total value of $87,985.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 789 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total transaction of $44,617.95. Following the completion of the transaction, the executive vice president now directly owns 7,998 shares in the company, valued at $452,286.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,923 shares of company stock worth $185,098. Insiders own 0.17% of the company’s stock.

Several brokerages have recently weighed in on QCOM. BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Summit Insights raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. BMO Capital Markets increased their price objective on shares of QUALCOMM to $64.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. Stifel Nicolaus increased their price objective on shares of QUALCOMM from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. QUALCOMM presently has a consensus rating of “Buy” and an average price target of $70.52.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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