iA Global Asset Management Inc. Has $16.49 Million Holdings in Qualcomm Incorporated $QCOM

Key Points

• iA Global Asset Management Inc. reduced its Qualcomm stake by 15.1% in the first quarter, selling 22,838 shares and leaving it with 128,064 shares valued at about $16.49 million.
• Qualcomm remains widely held by institutions, with hedge funds and asset managers owning 74.35% of the stock; several large firms, including Vanguard and Geode, increased their positions.
• Qualcomm has drawn mixed but generally constructive analyst attention and is benefiting from AI/data-center optimism, while also reporting a quarterly EPS beat and approving a $20 billion share buyback.

iA Global Asset Management Inc. cut its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,064 shares of the wireless technology company's stock after selling 22,838 shares during the period. iA Global Asset Management Inc.'s holdings in Qualcomm were worth $16,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Qualcomm by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock valued at $19,524,350,000 after buying an additional 647,076 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Qualcomm by 12.5% during 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 acquiring an additional 3,221,924 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 4,290,622 shares during the last quarter. Norges Bank bought a new position in Qualcomm in the fourth quarter valued at about $2,591,056,000. Finally, Amundi raised its holdings in 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 during the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the completion of the sale, the executive vice president owned 30,684 shares of the company's stock, valued at $3,999,352.56. This represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares in the company, valued at $7,065,677.70. This represents 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. Insiders have sold a total of 21,806 shares of company stock valued at $3,928,958 over the last 90 days. 0.05% of the stock is owned by company insiders.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: ByteDance is reportedly working with Qualcomm as it develops an in-house CPU for AI infrastructure, which could support Qualcomm’s presence in custom silicon and future data-center demand. ByteDance targets in-house CPU for 2027 deployment, partners with Qualcomm: report
• Positive Sentiment: Analysts and market commentary continue to point to Qualcomm’s expanding AI-compute opportunity, including its Dragonfly C1000 server CPU and a stated goal of generating $15 billion in data-center revenue by fiscal 2029. Overclocking Qualcomm: Rewiring the AI Compute Market
• Positive Sentiment: Several pieces note bullish long-term price targets and constructive analyst views, suggesting Wall Street still sees upside over a 12-month horizon. Wall Street analysts set Qualcomm stock price target for 12 months

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. HSBC began coverage on shares of Qualcomm in a research note on Friday, May 8th. They issued a "buy" rating on the stock. Seaport Research Partners reaffirmed a "sell" rating and issued a $100.00 price objective on shares of Qualcomm in a research note on Monday, March 16th. Melius Research set a $220.00 target price on shares of Qualcomm in a report on Monday, May 18th. Barclays upgraded shares of Qualcomm from an "underweight" rating to an "overweight" rating in a research report on Thursday, June 25th. Finally, Mizuho increased their price target on Qualcomm from $170.00 to $210.00 and gave the company a "neutral" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $220.45.

Qualcomm Trading Down 2.1%

QCOM opened at $184.79 on Wednesday. The firm's fifty day moving average is $203.14 and its two-hundred day moving average is $167.90. The firm has a market cap of $194.77 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 5.62 and a beta of 1.59. 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 quick ratio of 1.61 and a current ratio of 2.37.

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, beating 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 analyst estimates of $10.59 billion. During the same quarter in the previous year, the business earned $2.85 EPS. The firm'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. Equities research analysts anticipate that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm declared that its Board of Directors 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 reacquire up to 14.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

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.