L2 Asset Management LLC Decreases Stake in Qualcomm Incorporated $QCOM

Key Points

• L2 Asset Management trimmed its Qualcomm stake by 5.8% in the fourth quarter, selling 2,645 shares and leaving it with 43,301 shares valued at about $7.4 million.
• Qualcomm’s latest earnings beat expectations, with EPS of $2.65 versus the $2.56 estimate, while revenue came in essentially in line at $10.60 billion. The company also issued Q3 2026 guidance of $2.10 to $2.30 EPS.
• Qualcomm raised its quarterly dividend to $0.92 per share and continues a large buyback program authorized for up to $20 billion in repurchases, signaling confidence in shareholder returns.

L2 Asset Management LLC cut its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,301 shares of the wireless technology company's stock after selling 2,645 shares during the period. Qualcomm makes up 1.0% of L2 Asset Management LLC's holdings, making the stock its 27th biggest holding. L2 Asset Management LLC's holdings in Qualcomm were worth $7,407,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. MUFG Securities EMEA plc increased its position in shares of Qualcomm by 112.2% during the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock valued at $7,524,000 after acquiring an additional 23,262 shares during the last quarter. Swedbank AB increased its position in shares of Qualcomm by 1.5% during the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock valued at $262,291,000 after acquiring an additional 23,110 shares during the last quarter. NBC Securities Inc. increased its position in shares of Qualcomm by 47.5% during the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock valued at $3,197,000 after acquiring an additional 6,018 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Qualcomm by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock valued at $24,578,000 after acquiring an additional 7,804 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its position in shares of Qualcomm by 6.1% during the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company's stock valued at $6,844,000 after acquiring an additional 2,288 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Argus set a $220.00 price target on shares of Qualcomm in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of Qualcomm from $150.00 to $175.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. BNP Paribas Exane cut shares of Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Summit Insights upgraded shares of Qualcomm from a "hold" rating to a "buy" rating in a report on Thursday, April 30th. Finally, UBS Group cut shares of Qualcomm from a "neutral" rating to an "underperform" rating in a report on Friday, May 8th. Fifteen equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $184.29.

Qualcomm Trading Up 4.3%

NASDAQ QCOM opened at $220.81 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The stock has a market capitalization of $232.73 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 26.19 and a beta of 1.59. The firm has a 50 day moving average of $186.31 and a two-hundred day moving average of $165.26.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping 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 analysts' expectations of $10.59 billion. During the same quarter in the previous year, the business posted $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. As a group, research analysts expect that Qualcomm Incorporated will post 8 EPS for the current fiscal year.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. This is a boost from Qualcomm's previous quarterly dividend of $0.89. The ex-dividend date is Thursday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.7%. Qualcomm's dividend payout ratio (DPR) is presently 40.00%.

Qualcomm announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were 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 owned 39,735 shares in the company, valued at $7,065,677.70. The trade was a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 21,806 shares of company stock worth $3,928,958. Insiders own 0.05% of the company's stock.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: CEO Cristiano Amon said Qualcomm is developing 40+ AI device designs, including wearables and other “agent” hardware, reinforcing the company’s push beyond handsets into new consumer AI categories. Qualcomm CEO says AI agents will replace apps — as chip giant works on 40 new AI-powered devices
• Positive Sentiment: Reports that Qualcomm may be in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion suggest an aggressive move to expand into dedicated AI accelerators and data-center hardware. Qualcomm in talks to buy Tenstorrent, The Information reports
• Positive Sentiment: Several articles highlighted Qualcomm as an AI-chip value play, with growing excitement around its data-center chip plans and diversification into autos and edge AI, which is helping offset worries about slowing smartphone demand. Qualcomm Stock Shakes Off Smartphone, PC Fears as AI Chip Excitement Grows
• Neutral Sentiment: Other coverage repeated the same theme: Qualcomm is increasingly seen as shifting from a handset-centric story to a broader AI infrastructure and edge-computing narrative, which supports the stock’s recent strength but does not add a new near-term financial update. Qualcomm Is a Rare AI Chip Value Play
• Negative Sentiment: Some commentary still flags Qualcomm’s smartphone exposure as a risk, and the market is waiting for proof that new AI initiatives can translate into durable revenue growth. Breakfast News: QCOM Looks Past Phones for Growth

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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