Baker Avenue Asset Management LP Acquires 69,894 Shares of Qualcomm Incorporated $QCOM

Key Points

• Baker Avenue Asset Management LP increased its Qualcomm stake by 135.3% in the fourth quarter, buying 69,894 additional shares and bringing its total holding to 121,571 shares worth about $20.8 million.
• Qualcomm has been boosted by news of a reported custom AI-chip deal with ByteDance, which could open a new revenue stream and expand the company’s role in AI infrastructure and data centers.
• The stock has seen mixed signals from Wall Street: analyst ratings currently average to Hold with a consensus price target of $181.79, while the company also recently reported better-than-expected quarterly EPS and raised its dividend to $0.92 per share.

Baker Avenue Asset Management LP lifted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 135.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 121,571 shares of the wireless technology company's stock after acquiring an additional 69,894 shares during the period. Baker Avenue Asset Management LP's holdings in Qualcomm were worth $20,795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Vanguard Group Inc. increased its position in shares of Qualcomm by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after purchasing an additional 647,076 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after purchasing an additional 3,221,924 shares in the last quarter. Amundi increased its position in shares of Qualcomm by 9.9% during the 3rd quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock worth $2,136,486,000 after purchasing an additional 1,138,541 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Qualcomm by 141.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after purchasing an additional 7,292,783 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Qualcomm by 2.3% during the 3rd quarter. Invesco Ltd. now owns 9,874,113 shares of the wireless technology company's stock worth $1,642,657,000 after purchasing an additional 220,209 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reportedly secured a custom ASIC/AI-chip supply deal with ByteDance, a win that could open a new revenue stream in data centers and strengthen its position in AI infrastructure. Reuters article
• Positive Sentiment: Momentum in AI and semiconductor stocks has also lifted Qualcomm, with traders rotating into the sector and pushing QCOM to record highs on the ByteDance news. Yahoo Finance article
• Positive Sentiment: Recent commentary highlights Qualcomm’s growing automotive and data-center ambitions, reinforcing the idea that the company may be re-rated as a broader AI semiconductor player rather than only a mobile-chip supplier. MarketBeat article
• Neutral Sentiment: Some recent articles were mostly price-prediction or trend pieces, reflecting the stock’s strong recent rally rather than providing new fundamental information. 247WallSt article
• Negative Sentiment: There are execution and regulatory risks around any ByteDance-related chip business, including potential U.S. export controls that could affect shipments to Chinese data-center customers. MarketBeat article

Insider Buying and Selling at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the transaction, the executive vice president owned 39,735 shares of the company's stock, valued at $7,065,677.70. This trade represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,306 shares of company stock worth $3,435,583 in the last 90 days. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. UBS Group cut shares of Qualcomm from a "neutral" rating to an "underperform" rating in a research report on Friday, May 8th. The Goldman Sachs Group began coverage on shares of Qualcomm in a research report on Monday, March 30th. They set a "neutral" rating and a $135.00 target price for the company. Robert W. Baird set a $300.00 target price on shares of Qualcomm in a research report on Friday, May 1st. Barclays increased their target price on shares of Qualcomm from $130.00 to $150.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Finally, Melius Research set a $220.00 price objective on shares of Qualcomm in a research report on Monday, May 18th. Fourteen investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $181.79.

Qualcomm Stock Down 6.2%

Shares of NASDAQ:QCOM opened at $233.40 on Thursday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $258.00. The company has a 50 day moving average of $161.42 and a 200-day moving average of $160.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The stock has a market cap of $246.00 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 30.82 and a beta of 1.49.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.59 billion. During the same quarter in the previous year, the company earned $2.85 EPS. Qualcomm's revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts forecast that Qualcomm Incorporated will post 7.99 earnings per share for the current year.

Qualcomm declared that its board has authorized a stock repurchase program on Tuesday, March 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Qualcomm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.6%. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's dividend payout ratio is presently 40.00%.

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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