Connor Clark & Lunn Investment Management Ltd. Takes $38.45 Million Position in Qualcomm Incorporated $QCOM

Connor Clark & Lunn Investment Management Ltd. bought a new position in Qualcomm Incorporated (NASDAQ:QCOM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 231,112 shares of the wireless technology company’s stock, valued at approximately $38,448,000.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Norges Bank bought a new stake in Qualcomm in the second quarter valued at $2,713,603,000. Amundi raised its stake in Qualcomm by 38.2% during the second quarter. Amundi now owns 11,533,094 shares of the wireless technology company’s stock worth $1,866,451,000 after acquiring an additional 3,186,524 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Qualcomm by 36.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company’s stock valued at $1,090,025,000 after acquiring an additional 1,764,252 shares during the period. Viking Global Investors LP lifted its holdings in shares of Qualcomm by 120.1% during the second quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company’s stock valued at $502,125,000 after acquiring an additional 1,720,529 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Qualcomm by 59.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 4,418,406 shares of the wireless technology company’s stock valued at $703,675,000 after purchasing an additional 1,641,068 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. JPMorgan Chase & Co. lowered their target price on shares of Qualcomm from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Evercore reduced their price target on shares of Qualcomm from $157.00 to $134.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of Qualcomm in a research note on Thursday, January 15th. Rosenblatt Securities dropped their price objective on shares of Qualcomm from $225.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Finally, Zacks Research cut shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $168.00.

Qualcomm Trading Down 2.2%

Shares of NASDAQ QCOM opened at $131.15 on Friday. Qualcomm Incorporated has a 1-year low of $120.80 and a 1-year high of $205.95. The company has a market cap of $139.94 billion, a PE ratio of 27.10, a P/E/G ratio of 6.69 and a beta of 1.25. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $150.40 and a two-hundred day moving average of $162.53.

Qualcomm (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 4th. The wireless technology company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.12. The company had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.16 billion. Qualcomm had a net margin of 11.96% and a return on equity of 44.09%. Qualcomm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 earnings per share. Qualcomm has set its Q2 2026 guidance at 2.450-2.650 EPS. As a group, equities analysts expect that Qualcomm Incorporated will post 9.39 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, March 5th. Qualcomm’s dividend payout ratio (DPR) is presently 73.55%.

Insider Transactions at Qualcomm

In related news, EVP Alexander H. Rogers sold 15,917 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $178.01, for a total value of $2,833,385.17. Following the transaction, the executive vice president owned 26,071 shares in the company, valued at $4,640,898.71. This trade represents a 37.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann C. Chaplin sold 7,180 shares of Qualcomm stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $178.03, for a total value of $1,278,255.40. Following the completion of the sale, the executive vice president owned 23,944 shares of the company’s stock, valued at approximately $4,262,750.32. The trade was a 23.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,501 shares of company stock valued at $7,784,198 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.