Shares of mobile semiconductors manufacturer Qualcomm, Inc. (QCOM) have gained 21% over the past six months. The company recently delivered better-than-expected results for the first quarter on both top-line and bottom-line fronts.
Robust demand in China and growth in the Android business helped revenues increase 30% year-over-year to $10.70 billion, beating estimates of $10.41 billion. Earnings per share at $3.23 registered 49% year-over-year growth and came in ahead of analysts’ expectations of $3.01.
With these developments in mind, let’s have a look at what’s changed in QCOM’s key risk factors that investors should know.
Risk Factors
According to the TipRanks Risk Factors tool, Qualcomm’s top risk category is Tech & Innovation, which comprises eight of the total 25 risks identified for the stock. In its recent report, the company has added one key risk factor under the Finance & Corporate risk category.
QCOM notes that in July 2018, it had announced a share buyback program of up to $30 billion. Further, in October 2021, it announced an additional share buyback program of $10 billion. These programs have no expiry date. The company said, “Shares withheld to satisfy statutory tax withholding requirements related to the vesting of share-based awards are not issued or considered stock repurchases under its stock repurchase program.”
Compared to the sector average of Tech & Innovation’s six risk factors, QCOM is at 8.
Hedge Fund Activity
TipRanks data points that Wall Street’s top hedge funds have increased holdings in Qualcomm by 75.5 thousand shares in the last quarter, indicating a positive hedge fund confidence signal in the stock based on the activities of 24 hedge funds. Importantly, George Soros’ Soros Fund Management has a holding worth approximately $12 million in QCOM.
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