5 Best Stocks for Long-Term Growth

3. QUALCOMM, Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 71

QUALCOMM, Incorporated (NASDAQ:QCOM) is a leading semiconductor company that has significant exposure to high-growth markets such as 5G, server chips, and processors. The stock is one of the best long-term stocks to buy now. QUALCOMM Incorporated (NASDAQ:QCOM) is currently trading at bargain levels. As of October 6, the stock has a trailing twelve-month PE ratio of 11.1 and is offering a forward dividend yield of 2.4%.

On September 26, JPMorgan analyst Samik Chatterjee reiterated his buy-side Overweight rating and $185 price target on QUALCOMM Incorporated (NASDAQ:QCOM). This September, Deutsche Bank analyst Ross Seymore maintained his Buy rating and $170 price target on QUALCOMM Incorporated (NASDAQ:QCOM).

At the end of Q2 2022, 71 hedge funds held stakes in QUALCOMM Incorporated (NASDAQ:QCOM). The total value of these stakes amounted to $2.80 billion. As of June 30, Alkeon Capital Management owns more than 4.2 million shares of QUALCOMM Incorporated (NASDAQ:QCOM) and is the top shareholder in the company.