Qualcomm Incorporated $QCOM Stock Position Lessened by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC cut its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 65.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,029 shares of the wireless technology company’s stock after selling 14,933 shares during the period. Red Cedar Investment Management LLC’s holdings in Qualcomm were worth $1,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Baxter Bros Inc. bought a new stake in Qualcomm during the second quarter worth $17,844,000. Y Intercept Hong Kong Ltd purchased a new stake in Qualcomm in the 2nd quarter valued at $28,068,000. Tensor Edge Capital LLC purchased a new stake in Qualcomm in the 2nd quarter valued at $147,315,000. Sawyer & Company Inc purchased a new stake in Qualcomm in the 3rd quarter valued at $2,403,000. Finally, Robinson Value Management Ltd. lifted its stake in Qualcomm by 40.5% during the 3rd quarter. Robinson Value Management Ltd. now owns 34,184 shares of the wireless technology company’s stock valued at $6,291,000 after acquiring an additional 9,858 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash Palkhiwala sold 2,500 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total value of $457,125.00. Following the completion of the sale, the executive vice president directly owned 18,184 shares of the company’s stock, valued at $3,324,944.40. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,020 shares of company stock valued at $6,509,561 in the last quarter. Insiders own 0.05% of the company’s stock.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue grew 89% to a record $1.99 billion. Qualcomm also expects non-handset revenue to grow by more than 60% in fiscal 2027, supporting hopes that newer businesses can offset smartphone-market weakness. Article
• Positive Sentiment: ETFs made a net $28.3 million purchase of QCOM shares on Nov. 5, with more funds adding shares than reducing their holdings. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan, retaining 39,379 shares. The planned nature of the sale makes it a less clear signal about the company’s outlook. SEC filing
• Negative Sentiment: Handset revenue fell 26%, and earnings guidance came in below expectations, renewing concerns about pressure in Qualcomm’s core smartphone business. Article
• Negative Sentiment: Freedom Broker cut its rating from “buy” to “hold” and reduced its price target from $200 to $185, signaling less near-term upside in its view. Rating information

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. Citigroup cut their price objective on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Freedom Broker lowered shares of Qualcomm from a “buy” rating to a “hold” rating and reduced their target price for the stock from $200.00 to $185.00 in a research note on Monday. Morgan Stanley lowered their target price on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Susquehanna lowered their target price on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $197.13.

Qualcomm Stock Up 3.7%

QCOM opened at $171.47 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The stock has a market cap of $183.10 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.90 and a beta of 1.70. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company’s 50-day moving average price is $178.25 and its two-hundred day moving average price is $169.60.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 31.91%. The company had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.12 billion. During the same quarter last year, the business posted $3.00 EPS. Qualcomm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts expect that Qualcomm Incorporated will post 7.16 earnings per share for the current year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s dividend payout ratio is 28.98%.

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.