Renaissance Technologies LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Renaissance Technologies LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,096,777 shares of the wireless technology company’s stock, valued at approximately $218,456,000. Renaissance Technologies LLC owned approximately 0.10% of QUALCOMM as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter worth $1,171,516,000. Putnam Investments LLC grew its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Tigress Financial increased their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Mizuho increased their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Up 1.7 %

NASDAQ QCOM opened at $167.73 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $176.11 and its two-hundred day moving average is $182.05. The company has a market capitalization of $186.85 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last quarter. Insiders own 0.08% of the company’s stock.

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.