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Qualcomm (QCOM)

Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G. When people connected the phone to the internet, the mobile revolution was born. Today, foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. The company brings the benefits of mobile to new industries, including automotive, the internet of things, and computing, and are leading the way to a world where everything and everyone can communicate and interact seamlessly. Qualcomm Incorporated includes licensing business, QTL, and the vast majority of patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business.

Company profile

Ticker
QCOM
Exchange
CEO
Steven Mollenkopf
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
QUALCOMM CDMA Technologies Asia-Pacific Pte. Ltd. • Qualcomm Technologies International, Ltd. • Qualcomm Technologies, Inc. • NuVia, Inc. • RF360 Europe GmbH • RF360 Singapore Pte. Ltd. ...
IRS number
953685934

QCOM stock data

Investment data

Data from SEC filings
10 long holdings
End of quarter 31 Mar 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$64.28M 420.65K 429.36K -2.0
$62.09M 7.65M 11.33M -32.5
$33.2M 531.91K 531.91K 0
$33.13M 855.19K 1.9M -55.0
$27.44M 5.13M 5.13M 0
$6.58M 2.26M 2.26M 0
$3.84M 1.83M 1.83M 0
$3.47M 108.4K 108.4K 0
$268K 1.06M 1.06M 0
$187K 342.63K 342.63K 0
316.59K EXIT
Holdings list only includes long positions. Only includes long positions.

Calendar

27 Apr 22
24 May 22
26 Sep 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Sep 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 May 22 Polek Erin L Common Stock Sell Dispose S No Yes 129.95 1,521 197.65K 0
20 May 22 Polek Erin L Common Stock Payment of exercise Dispose F No No 131.6 316 41.59K 1,521
20 May 22 Polek Erin L Common Stock Option exercise Acquire M No No 0 915 0 1,837
20 May 22 Polek Erin L Common Stock Payment of exercise Dispose F No No 131.6 485 63.83K 922
20 May 22 Polek Erin L Common Stock Option exercise Acquire M No No 0 1,407 0 1,407
20 May 22 Polek Erin L RSU Common Stock Option exercise Dispose M No No 0 915.849 0 2,748.574
20 May 22 Polek Erin L RSU Common Stock Option exercise Dispose M No No 0 1,407.3 0 1,408.358
20 May 22 Palkhiwala Akash J. Common Stock Payment of exercise Dispose F No No 131.6 674 88.7K 40,154
20 May 22 Palkhiwala Akash J. Common Stock Option exercise Acquire M No No 0 1,949 0 40,828
20 May 22 Palkhiwala Akash J. RSU Common Stock Option exercise Dispose M No No 0 1,949.057 0 1,950.115
72.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 2306 2389 -3.5%
Opened positions 150 456 -67.1%
Closed positions 233 131 +77.9%
Increased positions 1088 885 +22.9%
Reduced positions 784 782 +0.3%
13F shares Current Prev Q Change
Total value 123.3B 150.49B -18.1%
Total shares 815.67M 824.25M -1.0%
Total puts 26.64M 38.52M -30.8%
Total calls 20.39M 24.62M -17.2%
Total put/call ratio 1.3 1.6 -16.5%
Largest owners Shares Value Change
Vanguard 105.59M $16.14B +1.5%
BLK Blackrock 82.02M $12.53B +0.8%
STT State Street 48.14M $7.36B -2.1%
FMR 34.28M $5.24B -1.8%
TROW T. Rowe Price 23.89M $3.65B +14.7%
Alliancebernstein 21.6M $3.3B +7.1%
Geode Capital Management 19M $2.9B +1.6%
MS Morgan Stanley 15.51M $2.37B +18.9%
IVZ Invesco 14.52M $2.22B -5.9%
BK Bank Of New York Mellon 14.17M $2.16B -2.6%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -12.4M EXIT
Cowa 6.17M +6.17M NEW
Nuveen Asset Management 4.23M -4.24M -50.1%
TROW T. Rowe Price 23.89M +3.06M +14.7%
MS Morgan Stanley 15.51M +2.46M +18.9%
Capital International Investors 9.13M +2.28M +33.4%
Fred Alger Management 961.91K -2.27M -70.2%
BCS Barclays 3.57M -2.02M -36.1%
AMP Ameriprise Financial 12.5M +1.69M +15.7%
Vanguard 105.59M +1.57M +1.5%

Financial report summary

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Risks
  • RISKS RELATED TO THE CORONAVIRUS (COVID-19) PANDEMIC
  • The coronavirus (COVID-19) pandemic had an adverse effect on our business and results of operations, and may continue to impact us in the future.
  • RISKS RELATED TO OUR OPERATING BUSINESSES
  • We derive a significant portion of our revenues from a small number of customers and licensees, and particularly from their sale of premium tier devices. If revenues derived from these customers or licensees decrease or the timing of such revenues fluctuates, our business and results of operations could be negatively affected.
  • Our business, particularly our semiconductor business, may suffer as a result of our customers vertically integrating (i.e., developing their own integrated circuit products).
  • A significant portion of our business is concentrated in China, and the risks of such concentration are exacerbated by U.S./China trade and national security tensions.
  • RISKS RELATED TO NEW INITIATIVES
  • Our growth depends in part on our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets. Our research, development and other investments in these new and expanded product areas, industries and applications, and related technologies and products, as well as in our existing technologies and products, and new technologies, may not generate operating income or contribute to future results of operations that meet our expectations.
  • We may engage in acquisitions and other strategic transactions or make investments, or be unable to consummate planned strategic acquisitions, which could adversely affect our results of operations or fail to enhance stockholder value.
  • RISKS RELATED TO SUPPLY AND MANUFACTURING
  • We depend on a limited number of third-party suppliers for the procurement, manufacture, assembly and testing of our products manufactured in a fabless production model. If we fail to execute supply strategies that provide supply assurance, technology leadership and reasonable margins, our business and results of operations may be harmed. We are also subject to order and shipment uncertainties that could negatively impact our results of operations.
  • There are numerous risks associated with the operation and control of our manufacturing facilities, including a higher portion of fixed costs relative to a fabless model; environmental compliance and liability; impacts related to climate change; exposure to natural disasters, health crises and cyber-attacks; timely supply of equipment and materials; and various manufacturing issues.
  • RISKS RELATED TO CYBERSECURITY OR MISAPPROPRIATION OF OUR CRITICAL INFORMATION
  • Our business and operations could suffer in the event of security breaches of our IT systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information.
  • RISKS RELATED TO HUMAN CAPITAL MANAGEMENT
  • We may not be able to attract and retain qualified employees, and our attempts to fully reopen our offices and operate under a hybrid working environment may not be successful.
  • RISKS SPECIFIC TO OUR LICENSING BUSINESS
  • The continued and future success of our licensing programs requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring.
  • Efforts by some original equipment manufacturers (OEMs) to avoid paying fair and reasonable royalties for the use of our intellectual property may require the investment of substantial management time and financial resources and may result in legal decisions or actions by governments, courts, regulators or agencies, Standards Development Organizations (SDOs) or other industry organizations that harm our business.
  • RISKS RELATED TO REGULATORY AND LEGAL CHALLENGES
  • Our business may suffer as a result of adverse rulings in governmental investigations or proceedings.
  • RISKS RELATED TO INDUSTRY DYNAMICS AND COMPETITION
  • Our revenues depend on our customers’ and licensees’ sales of products and services based on CDMA, OFDMA and other communications technologies, including 5G, and customer demand for our products based on these technologies.
  • Our industry is subject to intense competition in an environment of rapid technological change. Our success depends in part on our ability to adapt to such change and compete effectively; and such change and competition could result in decreased demand for our products and technologies or declining average selling prices for our products or those of our customers or licensees.
  • RISKS RELATED TO PRODUCT DEFECTS OR SECURITY VULNERABILITIES
  • Failures in our products, or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors, could harm our business.
  • RISKS RELATED TO INTELLECTUAL PROPERTY
  • The enforcement and protection of our intellectual property may be expensive, could fail to prevent misappropriation or unauthorized use of our intellectual property, could result in the loss of our ability to enforce one or more patents, and could be adversely affected by changes in patent laws, by laws in certain foreign jurisdictions that may not effectively protect our intellectual property and by ineffective enforcement of laws in such jurisdictions.
  • Claims by other companies that we infringe their intellectual property could adversely affect our business.
  • Our use of open source software may harm our business.
  • We operate in the highly cyclical semiconductor industry, which is subject to significant downturns. We are also susceptible to declines in global, regional and local economic conditions generally. Our stock price and financial results are subject to substantial quarterly and annual fluctuations due to these dynamics, among others.
  • Our business may suffer due to the impact of, or our failure to comply with, the various existing, new or amended laws, regulations, policies or standards to which we are subject.
  • There are risks associated with our debt.
  • Tax liabilities could adversely affect our results of operations.
Management Discussion
  • Revenues for the second quarter of fiscal 2022 were $11.2 billion, an increase of 41% compared to the year ago quarter, with net income of $2.9 billion, an increase of 67% compared to the year ago quarter. Highlights from the second quarter of fiscal 2022 and other recent events included:
  • •QCT revenues increased by 52% in the second quarter of fiscal 2022 compared to the year ago quarter, primarily due to an increase in average selling prices and favorable mix toward higher-tier 5G products in handsets, along with higher IoT revenues.
  • •On October 4, 2021, we and SSW Partners entered into a definitive agreement to acquire Veoneer, Inc. (Veoneer). The transaction closed on April 1, 2022. We funded substantially all of the total cash consideration payable in the transaction, which was approximately $4.7 billion (inclusive of approximately $4.6 billion for amounts paid in respect of Veoneer’s outstanding capital stock and equity awards and amounts to be paid to settle Veoneer’s outstanding convertible senior notes due 2024; and the $110 million termination fee paid to Magna in the first quarter of fiscal 2022), in exchange for (i) the Arriver business and (ii) the right to receive a majority of the proceeds upon the sale of the Non-Arriver businesses by SSW Partners. We intend to incorporate Arriver’s computer vision, drive policy and driver assistance technologies into our Snapdragon automotive platform to deliver an integrated software SoC ADAS (advanced driver assistance systems) platform for automakers and Tier-1 automotive suppliers. SSW Partners retained Veoneer’s Tier-1 automotive supplier businesses, which it intends to sell in one or more transactions. We will consolidate the Non-Arriver businesses starting from the Closing Date until such businesses are sold by SSW Partners. Additional information related to this acquisition is included in this Quarterly Report in “Notes to Condensed Consolidated Financial Statements, Note 7. Acquisitions.”

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: ASC, beneficiary, fifteen, greenhouse, hypothetical, indirectly, invasion, lag, repealed, Restraint, Russia, settle, terrorism, Ukraine, underway, unilaterally, war
Removed: convergence, criteria, declined, employer, import, recession, Singapore, treat