Norges Bank Makes New Investment in Qualcomm Incorporated $QCOM

Key Points

• Norges Bank initiated a large new position in Qualcomm during the fourth quarter, buying about 15.15 million shares valued at roughly $2.59 billion, which represented about 1.42% of the company.
• Qualcomm reported fiscal-quarter results that beat earnings expectations, with EPS of $2.65 versus the $2.56 estimate and revenue of $10.60 billion. The company also raised its quarterly dividend to $0.92 per share and has an active $20 billion share buyback authorization.
• Analysts remain mixed overall: several firms recently lifted price targets, but the stock still carries a consensus Hold rating with an average target of $181.79. Qualcomm also saw insider selling and broader investor focus on its growing AI-related opportunities, including reported deals tied to ByteDance.

Norges Bank bought a new position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,147,945 shares of the wireless technology company's stock, valued at approximately $2,591,056,000. Norges Bank owned approximately 1.42% of Qualcomm as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Eurizon SLJ Capital Ltd bought a new stake in Qualcomm in the fourth quarter worth approximately $8,286,000. Eurizon Capital SGR S.p.A. bought a new stake in Qualcomm in the fourth quarter worth approximately $110,523,000. Hillsdale Investment Management Inc. increased its holdings in Qualcomm by 341.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 34,950 shares of the wireless technology company's stock worth $5,978,000 after purchasing an additional 27,040 shares in the last quarter. Triglav Investments D.O.O. increased its holdings in Qualcomm by 38.1% in the fourth quarter. Triglav Investments D.O.O. now owns 62,087 shares of the wireless technology company's stock worth $10,620,000 after purchasing an additional 17,113 shares in the last quarter. Finally, Zhang Financial LLC increased its holdings in Qualcomm by 117.7% in the fourth quarter. Zhang Financial LLC now owns 14,202 shares of the wireless technology company's stock worth $2,429,000 after purchasing an additional 7,679 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Melius Research set a $220.00 target price on Qualcomm in a report on Monday, May 18th. TD Cowen lifted their target price on Qualcomm from $150.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qualcomm in a report on Friday, March 27th. HSBC began coverage on Qualcomm in a report on Friday, May 8th. They issued a "buy" rating for the company. Finally, Royal Bank Of Canada boosted their price objective on Qualcomm from $150.00 to $175.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Fourteen analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $181.79.

Qualcomm Trading Up 3.2%

NASDAQ QCOM opened at $251.02 on Friday. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 30.14 and a beta of 1.49. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The business has a 50 day moving average price of $166.07 and a 200-day moving average price of $161.25. 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 (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities analysts expect that Qualcomm Incorporated will post 7.99 earnings per share for the current fiscal year.

Qualcomm Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 1.5%. Qualcomm's payout ratio is presently 38.70%.

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

Insider Buying and Selling

In related news, CAO Patricia Y. Grech sold 829 shares of Qualcomm 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. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 that occurred on Monday, May 4th. The shares were sold at an average price of $177.82, for a total value of $569,024.00. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,306 shares of company stock worth $3,435,583 in the last ninety days. Corporate insiders own 0.05% of the company's stock.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s recently reported earnings continue to support the stock, with shares still well above the level seen immediately after the last results. A Zacks note asks whether the post-earnings rally can continue, signaling ongoing investor optimism around the company’s momentum. Qualcomm (QCOM) Up 35.5% Since Last Earnings Report: Can It Continue?
• Positive Sentiment: Several reports say Qualcomm quietly signed a major AI-related deal with ByteDance, which investors view as a meaningful growth catalyst and evidence that Qualcomm is gaining traction in AI chips and related computing opportunities. While Nvidia battles AMD, Qualcomm quietly signed the biggest AI deal in its history with ByteDance
• Positive Sentiment: Related coverage highlighted Qualcomm’s stock hitting record highs after the ByteDance deal, reinforcing the market’s view that the agreement could expand Qualcomm’s AI revenue prospects. Qualcomm stock just hit new record highs. Investors can thank a ByteDance deal.
• Positive Sentiment: Another article framed the ByteDance agreement as an eye-catching strategic move, suggesting Qualcomm is being re-rated as more than just a handset chip supplier. Qualcomm makes eye-catching move with TikTok parent deal
• Neutral Sentiment: Qualcomm also presented at Bernstein’s Strategic Decisions Conference, but the transcript itself does not point to a clear new catalyst in the provided summary. QUALCOMM Incorporated (QCOM) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Negative Sentiment: One report warned that Apple’s in-house modem chips could threaten Qualcomm’s major customer base over time, which raises a structural risk for future smartphone-related revenue. Apple’s In-House Modem Chips Threaten Qualcomm’s (QCOM) Major Customer Base

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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