Ferguson Wellman Capital Management Inc. Sells 11,506 Shares of Qualcomm Incorporated $QCOM

Key Points

• Ferguson Wellman Capital Management cut its Qualcomm stake by 63.9% in the first quarter, selling 11,506 shares and ending with 6,503 shares valued at about $838,000.
• Qualcomm continues to draw bullish attention from analysts and commentators, with coverage pointing to upside in AI, data-center, server, and automotive growth. Recent analyst actions included upgrades and higher price targets, though the overall consensus rating remains “Hold.”
• The company posted mixed but solid operating results in its latest quarter, beating EPS expectations and slightly topping revenue estimates, while also authorizing a $20 billion share buyback. Qualcomm’s stock has also seen insider selling and was recently removed from some Russell indices, which could create near-term pressure.

Ferguson Wellman Capital Management Inc. lowered its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 63.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,503 shares of the wireless technology company's stock after selling 11,506 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Qualcomm were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Cullinan Associates Inc. increased its stake in shares of Qualcomm by 20.7% in the 1st quarter. Cullinan Associates Inc. now owns 53,472 shares of the wireless technology company's stock worth $6,886,000 after acquiring an additional 9,178 shares in the last quarter. Midwest Trust Co lifted its position in Qualcomm by 0.8% during the 1st quarter. Midwest Trust Co now owns 226,777 shares of the wireless technology company's stock valued at $29,204,000 after acquiring an additional 1,884 shares during the period. Fifth Third Bancorp boosted its stake in Qualcomm by 55.5% during the first quarter. Fifth Third Bancorp now owns 553,054 shares of the wireless technology company's stock worth $71,222,000 after acquiring an additional 197,426 shares in the last quarter. Sachetta LLC grew its holdings in Qualcomm by 32.1% in the first quarter. Sachetta LLC now owns 552 shares of the wireless technology company's stock worth $71,000 after purchasing an additional 134 shares during the period. Finally, Darwin Wealth Management LLC grew its holdings in Qualcomm by 42.1% in the first quarter. Darwin Wealth Management LLC now owns 14,912 shares of the wireless technology company's stock worth $1,920,000 after purchasing an additional 4,415 shares during the period. Institutional investors own 74.35% of the company's stock.

Key Stories Impacting 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

Qualcomm Stock Performance

Shares of NASDAQ:QCOM opened at $189.16 on Monday. The stock has a market capitalization of $199.37 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 5.63 and a beta of 1.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The stock's 50-day simple moving average is $209.59 and its two-hundred day simple moving average is $168.32. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. Lake Street Capital cut Qualcomm to a "hold" rating in a research note on Thursday, June 25th. DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 target price on the stock in a research note on Friday, June 26th. Argus set a $220.00 price target on Qualcomm in a research report on Friday, May 1st. UBS Group upped their price target on shares of Qualcomm from $170.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Finally, Robert W. Baird set a $300.00 price objective on shares of Qualcomm in a research report on Friday, May 1st. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $220.45.

Insider Buying and Selling at Qualcomm

In other news, CEO Cristiano R. Amon sold 10,000 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 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 completion of the transaction, the executive vice president directly owned 39,735 shares in the company, valued at approximately $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 a total of 19,221 shares of company stock valued at $3,592,440 over the last three months. Insiders own 0.05% of the company's stock.

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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