Fideuram Intesa Sanpaolo Private Banking S.P.A. Grows Stake in Qualcomm Incorporated $QCOM

Key Points

• Fideuram Intesa Sanpaolo Private Banking increased its Qualcomm stake by 44.3% in the first quarter, holding 42,512 shares worth about $5.5 million at the end of the period.
• Institutional ownership remains high, with hedge funds and other institutional investors controlling about 74.35% of Qualcomm’s shares, and several other large investors also boosted positions recently.
• Qualcomm reported better-than-expected quarterly earnings of $2.65 per share and authorized a $20 billion stock buyback, although analysts currently rate the stock a consensus "Hold" with a target price of $220.45.

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 44.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,512 shares of the wireless technology company's stock after acquiring an additional 13,043 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Qualcomm were worth $5,475,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of QCOM. Vanguard Group Inc. lifted its stake in Qualcomm by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock valued at $19,524,350,000 after purchasing an additional 647,076 shares during the last quarter. Geode Capital Management LLC increased its position in Qualcomm by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after buying an additional 3,221,924 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Qualcomm by 34.5% in the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock valued at $2,861,301,000 after buying an additional 4,290,622 shares during the period. Norges Bank bought a new stake in shares of Qualcomm in the fourth quarter valued at $2,591,056,000. Finally, Amundi lifted 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 valued at $2,136,486,000 after buying an additional 1,138,541 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QCOM shares. Craig Hallum downgraded Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Argus set a $220.00 price objective on Qualcomm in a research note on Friday, May 1st. Rosenblatt Securities increased their target price on shares of Qualcomm from $190.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Wells Fargo & Company lifted their target price on shares of Qualcomm from $230.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Finally, Raymond James Financial assumed coverage on shares of Qualcomm in a research report on Thursday, June 25th. They issued a "strong-buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $220.45.

Qualcomm Price Performance

QCOM stock opened at $176.25 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. The firm has a market capitalization of $185.77 billion, a PE ratio of 19.16, a PEG ratio of 5.24 and a beta of 1.63. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The stock has a 50-day simple moving average of $205.65 and a two-hundred day simple moving average of $167.95.

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 (EPS) for the quarter, topping 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 firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. During the same period in the prior year, the firm posted $2.85 earnings per share. The company'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. On average, equities analysts predict that Qualcomm Incorporated will post 7.96 EPS for the current fiscal year.

Qualcomm declared that its board has approved a stock buyback program on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 39,735 shares in the company, valued at approximately $7,065,677.70. The trade was a 7.45% decrease in their position. 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 worth $3,918,290. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.