Cullinan Associates Inc. Boosts Stake in Qualcomm Incorporated $QCOM

Key Points

• Cullinan Associates Inc. increased its Qualcomm stake by 20.7% in the first quarter, buying 9,178 additional shares and bringing its total holding to 53,472 shares worth about $6.89 million.
• Qualcomm shares were down 1.0% to $189.16 in Friday trading, with the company carrying a market cap of about $199.37 billion and a P/E ratio of 20.56.
• The company recently beat earnings expectations for the quarter, posting EPS of $2.65 versus $2.56 expected, and its board authorized a $20 billion share repurchase plan covering up to 14.5% of outstanding shares.

Cullinan Associates Inc. raised its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 20.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,472 shares of the wireless technology company's stock after buying an additional 9,178 shares during the quarter. Cullinan Associates Inc.'s holdings in Qualcomm were worth $6,886,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Your Advocates Ltd. LLP purchased a new stake in Qualcomm during the 1st quarter worth about $26,000. Richardson Financial Services Inc. lifted its holdings 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 in the last quarter. Torren Management LLC purchased a new position in Qualcomm in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 170 shares during the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Qualcomm during the 4th quarter worth about $31,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Qualcomm Trading Down 1.0%

QCOM stock traded down $1.95 on Friday, hitting $189.16. 7,059,391 shares of the company were exchanged, compared to its average volume of 19,346,306. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. 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 business's fifty day moving average is $209.59 and its two-hundred day moving average is $168.36. The stock has a market capitalization of $199.37 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 5.63 and a beta of 1.63.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $10.59 billion. During the same quarter last year, the business earned $2.85 EPS. Qualcomm's revenue for the quarter was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, research analysts forecast that Qualcomm Incorporated will post 7.96 earnings per share for the current year.

Qualcomm declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 17th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to purchase up to 14.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction on 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 in the company, valued at approximately $7,065,677.70. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,721 shares of company stock valued at $3,918,290. Corporate insiders own 0.05% of the company's stock.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Multiple recent pieces argue Qualcomm has more upside, including bullish price-target work and comparisons with other semiconductor names, with investors focused on its AI, data-center, and server growth potential. The Road To $380 For Qualcomm Stock
• Positive Sentiment: Analysts and market commentators highlighted Qualcomm’s expanding AI-focused portfolio and ongoing opportunities in emerging AI markets, which can reinforce the stock’s long-term growth narrative. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
• Positive Sentiment: Qualcomm’s automotive business continues to stand out, with record revenue and strong Snapdragon Digital Chassis adoption helping support the idea that growth is broadening beyond smartphones. Will Qualcomm's Automotive Business Continue Driving Top-Line Growth?
• Positive Sentiment: Recent analyst upgrades, including DBS Bank’s move to “moderate buy,” and other bullish notes suggest Wall Street sentiment is improving. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
• Neutral Sentiment: One report said Qualcomm was the recipient of a large increase in short interest, but the figures shown were zero shares, so the data appears inconclusive and is unlikely to be a major driver. Short Interest Update
• Negative Sentiment: Qualcomm’s late-June removal from several Russell growth and defensive indices may still pressure the stock through passive index-related selling, even as fundamentals and AI-related headlines improve sentiment. How Investors Are Reacting To QUALCOMM (QCOM) Index Removal And New On-Device AI Deepfake Partnership

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on QCOM shares. Royal Bank Of Canada boosted their price objective on shares of Qualcomm from $175.00 to $250.00 and gave the company a "sector perform" rating in a research report on Thursday, June 25th. BNP Paribas Exane lowered shares of Qualcomm to a "neutral" rating in a research report on Wednesday, April 29th. Raymond James Financial assumed coverage on shares of Qualcomm in a research note on Thursday, June 25th. They issued a "strong-buy" rating for the company. Morgan Stanley raised Qualcomm from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $146.00 to $231.00 in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $160.00 price objective on shares of Qualcomm in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $220.45.

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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