5 New Stock Picks of Suraj Parkash Chopra’s Force Hill Capital Management

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Force Hill Capital Management’s Stake Value: $17,837,000

Percentage of Force Hill Capital Management’s 13F Portfolio: 4.40%

Number of Hedge Fund Holders: 70

Suraj Parkash Chopra’s Force Hill Capital Management acquired 138,150 QUALCOMM Incorporated (NASDAQ:QCOM) shares during the third quarter of 2021, valued at $17.8 million, representing 4.40% of the fund’s total 13F securities for the period. QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based semiconductor company, offering expertise in wireless technology and software as well. 

QUALCOMM Incorporated (NASDAQ:QCOM) announced on January 4 that it is partnering with Microsoft Corporation (NASDAQ:MSFT) to integrate mixed reality software and phone-based AR platforms to create customized Snapdragon augmented reality chips. These chips will power AR glasses in Microsoft Corporation (MSFT)’s ecosystem in the future. 

In its third quarter earnings report, published on November 4, QUALCOMM Incorporated (NASDAQ:QCOM) posted an EPS of $2.55, exceeding estimates by $0.29. The Q3 revenue came in at $9.32 billion, gaining 43.36% from the prior-year quarter, outperforming estimates by $476.91 million. 

Barclays analyst Blayne Curtis raised the price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $185 from $180 and kept an Equal Weight rating on the shares on January 12. The analyst sees “positive outlooks providing some relief” for the semiconductor group but still struggles with “just how much upside is left as cyclicality still looms for many names.

70 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM) in the third quarter of 2021, with stakes amounting to $3.5 billion. Renaissance Technologies is one of the biggest QUALCOMM Incorporated (NASDAQ:QCOM) stakeholders, with 3.58 million shares worth $462 million. 

Here is what ClearBridge Investments has to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q1 2021 investor letter:

“Within IT, we have also increased exposure to a cyclical semiconductor industry currently working through a severe supply shortage due to several years of capacity reductions, COVID-19 shutdowns and one-off production delays as well as demand resilience in areas like autos and smartphones. The main risk for semiconductors is short-term revenue pressure until capacity catches up with demand, which hurts wireless chipmaker Qualcomm. Looking past current constraints, we expect the industry to see a strong second half and solid growth in 2022.”