Fri Oct 04 22:09:34 UTC 2024: ## Dana Investment Advisors Boosts Stake in Qualcomm, While Institutional Investors Show Interest

**Sioux Falls, SD – October 26, 2024** – Dana Investment Advisors Inc. significantly increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund’s stake grew by 208.3%, resulting in ownership of 102,846 shares, valued at approximately $20.5 million. This makes Qualcomm the 28th largest position in Dana’s portfolio, accounting for 0.7% of its total investments.

Dana’s increased interest in Qualcomm reflects a broader trend of institutional investor activity in the wireless technology company. Several other hedge funds and institutional investors also acquired or expanded their stakes in QCOM during the second quarter. These include New Century Financial Group LLC, 3Chopt Investment Partners LLC, Ted Buchan & Co, Advisory Alpha LLC, and HWG Holdings LP.

Overall, institutional ownership in Qualcomm currently sits at 74.35%, suggesting a strong belief in the company’s future prospects.

Despite a recent dip in Qualcomm’s share price, analysts remain optimistic about the company’s performance. Several firms, including DZ Bank, Wells Fargo & Company, Citigroup, and Robert W. Baird, have recently upgraded their target prices for QCOM stock, signaling potential for future growth.

Qualcomm’s recent earnings report also fueled positive sentiment. The company surpassed analysts’ expectations for both earnings per share and revenue during the second quarter, demonstrating its continued strength in the wireless technology sector.

However, it’s worth noting that while Qualcomm currently holds a Moderate Buy rating among analysts, MarketBeat’s research highlights five other stocks that are deemed even more promising by top-rated analysts.

Investors considering Qualcomm should consult with their financial advisors to determine if the stock aligns with their individual investment strategies.

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