Mirae Asset Global Investments Co. Ltd. Buys New Stake in Qualcomm Incorporated $QCOM

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,621,588 shares of the wireless technology company’s stock, valued at approximately $482,477,000. Qualcomm accounts for approximately 0.9% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SFE Investment Counsel boosted its stake in shares of Qualcomm by 3.1% in the 3rd quarter. SFE Investment Counsel now owns 95,056 shares of the wireless technology company’s stock valued at $17,494,000 after purchasing an additional 2,856 shares in the last quarter. Northern Financial Advisors Inc raised its position in shares of Qualcomm by 2.9% during the 3rd quarter. Northern Financial Advisors Inc now owns 2,660 shares of the wireless technology company’s stock valued at $490,000 after acquiring an additional 75 shares during the last quarter. ProShare Advisors LLC lifted its stake in Qualcomm by 5.1% in the third quarter. ProShare Advisors LLC now owns 1,372,719 shares of the wireless technology company’s stock valued at $252,635,000 after buying an additional 66,930 shares during the period. Vise Technologies Inc. boosted its stake in Qualcomm by 6.4% during the 3rd quarter. Vise Technologies Inc. now owns 81,490 shares of the wireless technology company’s stock worth $14,997,000 after acquiring an additional 4,879 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its holdings in shares of Qualcomm by 7.3% in the 3rd quarter. Cidel Asset Management Inc. now owns 9,526 shares of the wireless technology company’s stock valued at $1,753,000 after buying an additional 648 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Stock Performance

Shares of QCOM opened at $164.79 on Friday. The firm has a market capitalization of $175.97 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.71 and a beta of 1.65. The stock has a 50 day moving average price of $177.83 and a two-hundred day moving average price of $169.44. 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.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same period in the prior year, the firm posted $2.77 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts forecast that Qualcomm Incorporated will post 7.71 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

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 issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is presently 42.59%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Zacks Research downgraded Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. KeyCorp reaffirmed a “sector weight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qualcomm in a report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $205.83.

Insider Buying and Selling at Qualcomm

In other news, CAO Patricia Grech sold 625 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather Ace sold 3,200 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was 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. Over the last ninety days, insiders have sold 33,458 shares of company stock worth $6,198,144. 0.05% of the stock is owned by corporate insiders.

Qualcomm Profile

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.