Qualcomm Incorporated $QCOM Position Boosted by Busey Bank

Key Points

• Busey Bank increased its Qualcomm stake by 2.0% in the first quarter, adding 3,154 shares and bringing its total holding to 160,681 shares valued at about $20.7 million.
• Analysts are mixed on QCOM: recent moves included a Benchmark price target increase to $300 and a Daiwa upgrade to outperform, but the overall consensus rating remains Hold with an average target price of $220.45.
• Qualcomm reported solid quarterly results and authorized buybacks, beating EPS estimates with $2.65 per share and announcing a $20 billion share repurchase program, even as revenue declined 3.5% year over year.

Busey Bank lifted its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,681 shares of the wireless technology company's stock after purchasing an additional 3,154 shares during the period. Busey Bank's holdings in Qualcomm were worth $20,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Certified Advisory Corp boosted its holdings in Qualcomm by 0.6% during the third quarter. Certified Advisory Corp now owns 10,085 shares of the wireless technology company's stock worth $1,678,000 after buying an additional 62 shares in the last quarter. ProVise Management Group LLC grew its position in Qualcomm by 2.6% in the third quarter. ProVise Management Group LLC now owns 2,560 shares of the wireless technology company's stock worth $426,000 after buying an additional 64 shares during the last quarter. Baker Tilly Wealth Management LLC increased its holdings in shares of Qualcomm by 1.0% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 6,401 shares of the wireless technology company's stock valued at $1,095,000 after buying an additional 64 shares in the last quarter. Dakota Community Bank & Trust NA increased its holdings in shares of Qualcomm by 3.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,847 shares of the wireless technology company's stock valued at $316,000 after buying an additional 65 shares in the last quarter. Finally, Burns J W & Co. Inc. NY lifted its position in shares of Qualcomm by 2.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 3,253 shares of the wireless technology company's stock valued at $556,000 after acquiring an additional 66 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QCOM. Benchmark raised their price objective on Qualcomm from $225.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. The Goldman Sachs Group began coverage on Qualcomm in a research report on Thursday, June 25th. They set a "neutral" rating on the stock. TD Cowen reiterated a "buy" rating and issued a $200.00 price target on shares of Qualcomm in a research report on Thursday, June 25th. Daiwa Securities Group raised Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price target on the stock in a research note on Friday, May 8th. Finally, Evercore set a $179.00 price objective on Qualcomm in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $220.45.

Insiders Place Their Bets

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 39,735 shares in the company, valued at approximately $7,065,677.70. This trade represents a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value 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. Insiders sold a total of 21,721 shares of company stock valued at $3,918,290 in the last 90 days. Insiders own 0.05% of the company's stock.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $176.25 on Monday. The company's fifty day moving average is $205.65 and its two-hundred day moving average is $167.87. 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 12-month low of $121.99 and a 12-month high of $259.92. The company has a market cap of $185.77 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 5.24 and a beta of 1.63.

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

Qualcomm announced that its board has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are 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.

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