Bank of America Corp DE Sells 1,994,386 Shares of Qualcomm Incorporated $QCOM

Key Points

• Bank of America reduced its Qualcomm stake by 16%, selling 1,994,386 shares and retaining 10.48 million shares worth approximately $1.35 billion. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm’s latest quarter included $9.95 billion in revenue, ahead of estimates, but adjusted EPS of $2.21 missed expectations and revenue declined 4% year over year. Management’s fourth-quarter EPS outlook was also below consensus amid memory costs, pricing pressure and weaker Apple-related modem revenue.
• Analyst views remain mixed, with Qualcomm carrying a consensus “Hold” rating and an average price target of $203.63. Automotive and IoT growth, a BMW chip-design win and the Modular acquisition support its diversification into AI and data centers, while the stock opened at $151.60, down 2.6%.

Bank of America Corp DE lessened its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,480,258 shares of the wireless technology company's stock after selling 1,994,386 shares during the period. Bank of America Corp DE owned approximately 0.99% of Qualcomm worth $1,349,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Qualcomm by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Qualcomm by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Qualcomm by 44.3% in the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock valued at $530,000 after acquiring an additional 1,020 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Qualcomm by 6.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock worth $920,000 after acquiring an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in shares of Qualcomm by 9.7% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 603 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. Cantor Fitzgerald dropped their price target on Qualcomm from $200.00 to $165.00 and set a "neutral" rating for the company in a report on Monday. Daiwa Securities Group raised Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price objective on the stock in a research note on Friday, May 8th. UBS Group decreased their target price on Qualcomm from $190.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday. Barclays restated an "underweight" rating and issued a $180.00 target price on shares of Qualcomm in a research note on Thursday. Finally, Benchmark cut their price target on Qualcomm from $300.00 to $270.00 and set a "buy" rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty-one have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Qualcomm has an average rating of "Hold" and an average target price of $203.63.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reported record automotive revenue and raised its automotive outlook to approximately $7 billion, while automotive and IoT growth helped revenue exceed expectations. The company also highlighted plans to expand AI and data-center businesses and target $40 billion in non-handset revenue by fiscal 2029. Qualcomm Q3 earnings call highlights
• Positive Sentiment: BMW selected Qualcomm as its lead compute silicon provider for future digital cockpit and advanced driver-assistance systems, supporting the company’s long-term automotive growth strategy. Qualcomm wins BMW chip supply deal
• Positive Sentiment: Qualcomm completed its all-stock acquisition of Modular, an AI software infrastructure company, strengthening its ambitions in generative AI, edge computing and data-center markets. Qualcomm completes Modular acquisition
• Neutral Sentiment: Analyst sentiment remains mixed. Rosenblatt and TD Cowen maintained “buy” ratings, while Morgan Stanley, UBS and Susquehanna retained neutral or equal-weight views. However, all four firms lowered their price targets, with UBS cutting its target to $170 and Susquehanna to $160. Analyst price-target changes
• Negative Sentiment: Fiscal third-quarter adjusted EPS was $2.21, narrowly below consensus, while revenue of $9.95 billion beat estimates but declined 4% year over year. EPS also fell from $2.77 a year earlier, reflecting weaker handset results and higher costs. Qualcomm Q3 earnings results
• Negative Sentiment: Fourth-quarter EPS guidance of $2.05–$2.25 was below the approximately $2.23 consensus midpoint, while management warned that rising memory costs, pricing pressure and a faster decline in Apple-related modem revenue could weigh on margins and profits. Qualcomm outlook and cost pressures

Qualcomm Trading Down 2.6%

QCOM opened at $151.60 on Friday. The firm has a 50 day simple moving average of $200.02 and a 200 day simple moving average of $167.76. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The company has a market cap of $159.79 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 4.62 and a beta of 1.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 39.89%. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the previous year, the business posted $2.77 earnings per share. Qualcomm's revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts anticipate that Qualcomm Incorporated will post 7.98 earnings per share for the current year.

Qualcomm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio (DPR) is currently 40.00%.

Insider Buying and Selling

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the transaction, the executive vice president owned 39,735 shares of the company's stock, valued at approximately $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $180.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer owned 197,568 shares in the company, valued at approximately $35,562,240. This trade represents a 4.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,529 shares of company stock valued at $4,011,441 over the last 90 days. Company insiders own 0.05% of the company's stock.

About Qualcomm

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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