These 5 Reddit Stocks Are Getting Crushed in March

1. QUALCOMM Incorporated (NASDAQ:QCOM)

1-Month Decline in Share Price as of March 29: 7.93%

Number of Hedge Fund Holders: 75

QUALCOMM Incorporated (NASDAQ:QCOM) is a San Diego-based company that develops semiconductors and software for the wireless industry worldwide. The share price has declined close to 8% in the last month. 

On March 9, QUALCOMM Incorporated (NASDAQ:QCOM) declared a $0.75 per share quarterly dividend, a 10.3% increase from its prior dividend of $0.68. This raise is effective after March 24, 2022. 

Piper Sandler analyst Harsh Kumar on March 18 reiterated an Overweight rating on QUALCOMM Incorporated (NASDAQ:QCOM) with a $225 price target. According to the analyst, QUALCOMM Incorporated (NASDAQ:QCOM) is “set to capitalize on an already proliferating” internet of things opportunity. The analyst believes QUALCOMM Incorporated (NASDAQ:QCOM) shares are “currently mis-valued”. 

According to the Q4 database of Insider Monkey, 75 hedge funds placed long bets on QUALCOMM Incorporated (NASDAQ:QCOM), compared to 70 funds in the earlier quarter. Alkeon Capital Management is the biggest shareholder of the company, with 5.30 million shares worth over $970 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.”

You can also take a look at 10 Undervalued Small-Cap Stocks to Buy Now and 10 Penny Stocks with Upcoming Growth Catalysts. 

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