StoneRidge PMG Advisors LLC Purchases New Holdings in Qualcomm Incorporated $QCOM

StoneRidge PMG Advisors LLC purchased a new position in Qualcomm Incorporated (NASDAQ:QCOM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,521 shares of the wireless technology company’s stock, valued at approximately $1,200,000. Qualcomm accounts for about 0.8% of StoneRidge PMG Advisors LLC’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Qualcomm in the second quarter worth $17,583,115,000. State Street Corp raised its stake in shares of Qualcomm by 1.3% in the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock valued at $9,750,123,000 after buying an additional 671,537 shares during the period. Van ECK Associates Corp lifted its position in shares of Qualcomm by 22.7% during the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after buying an additional 3,179,720 shares during the last quarter. Amundi lifted its position in shares of Qualcomm by 94.1% during the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after buying an additional 4,942,908 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Qualcomm during the 2nd quarter worth $1,523,930,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Qualcomm Price Performance

Qualcomm stock opened at $165.41 on Monday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The business has a fifty day moving average price of $178.11 and a 200-day moving average price of $169.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. The firm has a market capitalization 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 announced its quarterly earnings results 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 company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current year.

Qualcomm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio is currently 28.98%.

Key Qualcomm News

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

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Arete Research raised Qualcomm to a “strong-buy” rating in a report on Friday, October 16th. Cantor Fitzgerald dropped their price objective on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Benchmark cut their target price on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Rosenblatt Securities reduced their target price on shares of Qualcomm from $235.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Susquehanna reduced their target price on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $197.55.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 177,568 shares of the company’s stock, valued at approximately $35,513,600. The trade was a 5.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 208 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $35,360.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 31,820 shares of company stock valued at $5,980,217. Corporate insiders own 0.05% of the company’s stock.

About Qualcomm

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.