DZ Bank Downgrades Qualcomm (NASDAQ:QCOM) to Hold

Key Points

• DZ Bank downgraded Qualcomm from "buy" to "hold" and set a $195 price target, implying about an 8.21% downside from the stock's prior close.
• Qualcomm reported a Q2 EPS beat ($2.65 vs. $2.56), provided Q3 EPS guidance of 2.10–2.30, and authorized a $20 billion buyback (up to ~14.5% of shares), signaling management confidence despite slight revenue weakness year‑over‑year.
• Analyst and market sentiment is mixed—nine buys, sixteen holds, three sells, and a MarketBeat average rating of "Hold" with a $176.54 average target—while the stock has been lifted by AI/custom‑silicon momentum and partnerships but faces overbought technicals and supply/competitive risks.

Qualcomm (NASDAQ:QCOM - Get Free Report) was downgraded by stock analysts at DZ Bank from a "buy" rating to a "hold" rating in a report released on Friday. They presently have a $195.00 price target on the wireless technology company's stock. DZ Bank's price objective would indicate a potential downside of 8.21% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Loop Capital upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research note on Tuesday, February 24th. Bank of America started coverage on Qualcomm in a research note on Tuesday, March 10th. They issued an "underperform" rating and a $145.00 price target for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $146.00 price target on shares of Qualcomm in a research report on Thursday, April 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qualcomm in a research note on Friday, March 27th. Finally, UBS Group increased their price objective on Qualcomm from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Qualcomm presently has an average rating of "Hold" and an average target price of $176.54.

Qualcomm Price Performance

Shares of QCOM opened at $212.44 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. Qualcomm has a twelve month low of $121.99 and a twelve month high of $223.66. The stock has a market capitalization of $223.91 billion, a P/E ratio of 23.36, a P/E/G ratio of 23.76 and a beta of 1.49. The company has a 50 day moving average of $138.77 and a 200-day moving average of $155.88.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.09. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts forecast that Qualcomm will post 8.02 EPS for the current fiscal year.

Qualcomm announced that its board has authorized a stock buyback program on Tuesday, March 17th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the wireless technology company to purchase up to 14.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total value of $325,850.00. Following the completion of the sale, the executive vice president owned 30,684 shares of the company's stock, valued at $3,999,352.56. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $177.82, for a total transaction of $569,024.00. Following the transaction, the executive vice president directly owned 39,735 shares in the company, valued at $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,177 shares of company stock worth $3,176,966 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Qualcomm

Institutional investors have recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new position in shares of Qualcomm in the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. lifted its stake in Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares during the last quarter. Torren Management LLC bought a new stake in Qualcomm during the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after buying an additional 170 shares during the period. Finally, Birchwood Financial Partners Inc. bought a new position in shares of Qualcomm during the fourth quarter valued at $31,000. 74.35% of the stock is currently owned by institutional investors.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm unveiled two new mid‑range mobile SoCs (Snapdragon 6 Gen 5 and 4 Gen 5) that bring Wi‑Fi 7 and improved gaming to lower‑cost phones — a product catalyst that broadens addressable market and helped lift the stock. What's driving Qualcomm stock higher?
• Positive Sentiment: Market momentum tied to Qualcomm’s AI story sparked a large short‑term rally (reports of a ~15% move), as investors re-rate QCOM for AI silicon exposure beyond modems. Qualcomm stock surges 15% on AI momentum trade
• Positive Sentiment: Qualcomm authorized a fresh ~$20B buyback and is expanding partnerships (e.g., Snap AR) and custom silicon work for hyperscalers — tangible capital return and cloud AI revenue opportunities that support higher valuation multiple expectations. Qualcomm Climbs 8% as Buyback, Snap AR Partnership Power Pivot Beyond Smartphones
• Positive Sentiment: Q2 results showed an EPS beat and record automotive revenue, reinforcing diversification beyond handsets and helping drive a near‑term re‑rating of the stock. A Look At Qualcomm (QCOM) Valuation After Strong Q2 Results And AI Focused Expansion
• Neutral Sentiment: Analysis pieces argue Qualcomm is undervalued as an AI play relative to peers — a bullish narrative but one that depends on execution in custom silicon and hyperscaler deals. Qualcomm Is One of the Cheapest AI Stocks in the Trump Bull Market. Here’s Why That Gap May Close
• Negative Sentiment: Technicals show QCOM’s RSI moved into overbought territory (early 80s) and the rally hit record‑high resistance, increasing the risk of a near‑term pullback after the sharp run. Qualcomm's red-hot rally just ran into record-high resistance
• Negative Sentiment: Operational headwinds remain: memory‑related supply constraints and competitive/phone‑procurement dynamics (including reports Apple dominated recent chip deals) could pressure handset revenue and margins. QUALCOMM Incorporated (QCOM) Slipped Over Memory-Related Supply Constraints in Q1 The 2026 Chip War Is Already Over and Apple Dominated

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

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