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Hedge Funds Still Believe In QUALCOMM, Inc. (QCOM)

Seeing as QUALCOMM, Inc. (NASDAQ:QCOM) has experienced declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of funds that slashed their positions entirely in the third quarter. It’s worth mentioning that Matthew Mark’s Jet Capital Investors cut the largest stake of the 700 funds watched by Insider Monkey, valued at about $184.8 million in stock. Benjamin A. Smith’s fund, Laurion Capital Management, also dropped its stock, about $137.8 million worth. These transactions are important to note, as total hedge fund interest fell by 1 fund in the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as QUALCOMM, Inc. (NASDAQ:QCOM) but similarly valued. We will take a look at Starbucks Corporation (NASDAQ:SBUX), Vodafone Group Plc (ADR) (NASDAQ:VOD), GlaxoSmithKline plc (ADR) (NYSE:GSK), and NIKE, Inc. (NYSE:NKE). This group of stocks’ market values match QCOM’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SBUX 54 1716424 8
VOD 27 744292 -7
GSK 35 1019596 2
NKE 59 4490275 2

As you can see these stocks had an average of 43.75 hedge funds with bullish positions and the average amount invested in these stocks was $1.99 billion. That figure was $6.15 billion in QCOM’s case. NIKE, Inc. (NYSE:NKE) is the most popular stock in this table. On the other hand Vodafone Group Plc (ADR) (NASDAQ:VOD) is the least popular one with only 27 bullish hedge fund positions. Compared to these stocks QUALCOMM, Inc. (NASDAQ:QCOM) is more popular among hedge funds and has far more capital invested in it. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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