Sitrin Capital Management LLC Cuts Stock Position in QUALCOMM Incorporated $QCOM

Sitrin Capital Management LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 27,658 shares of the wireless technology company’s stock after selling 2,790 shares during the quarter. QUALCOMM makes up 2.2% of Sitrin Capital Management LLC’s portfolio, making the stock its 28th largest position. Sitrin Capital Management LLC’s holdings in QUALCOMM were worth $4,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of QCOM. OVERSEA CHINESE BANKING Corp Ltd increased its stake in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors increased its stake in QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock worth $663,000 after acquiring an additional 321 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock worth $28,979,000 after acquiring an additional 6,017 shares during the last quarter. Russell Investments Group Ltd. increased its stake in QUALCOMM by 12.3% during the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock worth $203,904,000 after acquiring an additional 145,509 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in QUALCOMM by 0.5% during the first quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company’s stock worth $3,713,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the transaction, the chief financial officer owned 39,874 shares in the company, valued at $6,254,635.64. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. This trade represents a 41.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,767 shares of company stock worth $26,322,745 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $167.77 on Thursday. The business’s fifty day simple moving average is $159.90 and its 200-day simple moving average is $153.49. The company has a market cap of $181.02 billion, a PE ratio of 16.18, a PEG ratio of 2.41 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 earnings per share. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of QUALCOMM in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. Mizuho dropped their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Citigroup restated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Arete Research set a $200.00 target price on QUALCOMM in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.82.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.