Summit Global Investments Invests $1.79 Million in Qualcomm Incorporated $QCOM

Summit Global Investments acquired a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,690 shares of the wireless technology company’s stock, valued at approximately $1,791,000.

Several other hedge funds have also made changes to their positions in QCOM. Vanguard Group Inc. raised its holdings in Qualcomm by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock valued at $19,524,350,000 after acquiring an additional 647,076 shares in the last quarter. Geode Capital Management LLC grew 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 worth $4,931,968,000 after purchasing an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 4,290,622 shares in the last quarter. Norges Bank bought a new stake in shares of Qualcomm during the fourth quarter valued at approximately $2,591,056,000. Finally, Amundi increased its position in shares of Qualcomm by 9.9% during the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock valued at $2,136,486,000 after purchasing an additional 1,138,541 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore set a $159.00 price target on shares of Qualcomm in a research note on Thursday, July 30th. Melius Research set a $220.00 price objective on shares of Qualcomm in a report on Monday, May 18th. Roth Capital assumed coverage on shares of Qualcomm in a report on Friday, May 8th. They set a “buy” rating for the company. Guggenheim set a $200.00 target price on shares of Qualcomm in a research report on Monday, June 22nd. Finally, Monness Crespi & Hardt raised shares of Qualcomm to a “buy” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Qualcomm currently has a consensus rating of “Hold” and a consensus price target of $203.63.

Insider Activity

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the transaction, the executive vice president owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the sale, the executive vice president owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This represents a 8.05% 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 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is currently owned by insiders.

Qualcomm Stock Down 1.2%

NASDAQ QCOM opened at $160.19 on Wednesday. The stock has a market capitalization of $168.24 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 15.25 and a beta of 1.65. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. 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 stock has a fifty day moving average of $180.71 and a 200-day moving average of $167.93.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities research analysts forecast that Qualcomm Incorporated will post 7.76 EPS for the current year.

Qualcomm Dividend Announcement

The firm 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. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. Qualcomm’s dividend payout ratio is presently 42.59%.

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.