Qualcomm Incorporated $QCOM Position Lifted by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA increased its Qualcomm stake by 16.9% in the third quarter, bringing its holdings to 71,093 shares valued at approximately $13.1 million. Institutional investors collectively own 74.35% of QCOM.
• Qualcomm faces mixed signals: legal and licensing wins involving Arm, Apple and Transsion support its outlook, while potential Samsung chip replacement, MediaTek competition and a broader semiconductor selloff create risks.
• QCOM recently traded around $172.11, down 3.5%, while analysts’ consensus rating remains “Hold” with an average price target of $204.10. The company’s latest quarterly revenue exceeded estimates, but earnings narrowly missed expectations and revenue declined year over year.

Banque Pictet & Cie SA lifted its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 16.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,093 shares of the wireless technology company's stock after purchasing an additional 10,278 shares during the quarter. Banque Pictet & Cie SA's holdings in Qualcomm were worth $13,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. BlackRock Inc. purchased a new position in Qualcomm during the 2nd quarter valued at about $17,583,115,000. State Street Corp boosted its stake in Qualcomm by 1.3% during the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company's stock worth $9,750,123,000 after acquiring an additional 671,537 shares in the last quarter. Van ECK Associates Corp grew its holdings in Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock worth $3,178,872,000 after purchasing an additional 3,179,720 shares during the period. Invesco Ltd. grew its holdings in Qualcomm by 28.1% in the fourth quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company's stock worth $2,163,030,000 after purchasing an additional 2,771,490 shares during the period. Finally, Amundi increased its stake in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock valued at $1,884,071,000 after purchasing an additional 4,942,908 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm appears to have prevailed in its licensing dispute with Arm. A Delaware jury found that Arm breached its license agreement with Qualcomm, supporting Qualcomm’s position in a dispute that could have affected the company’s ability to use Arm-based designs. The verdict is a potential legal and strategic win, although further proceedings may still be required. Jury finds Arm breached license agreement with Qualcomm
• Positive Sentiment: A renewed Apple licensing agreement improves revenue visibility. Qualcomm’s continued licensing relationship with Apple helps support its high-margin patent-licensing business, even as Apple works to develop more of its own modem technology. Qualcomm renews Apple license
• Positive Sentiment: Qualcomm expanded its 5G licensing coverage with Transsion through 2031. The extended agreement provides longer-term royalty visibility in emerging smartphone markets. Qualcomm, Transsion Extend 5G Patent License Deal
• Positive Sentiment: The company launched an AI-native Wi-Fi 8 gateway. The product combines next-generation connectivity with edge AI computing, supporting Qualcomm’s strategy to diversify beyond smartphones into home broadband and AI-enabled devices. Qualcomm unveils AI-native Wi-Fi 8 gateway
• Neutral Sentiment: Analysts continue to view Qualcomm as a cash-generative wireless technology company with growth opportunities in automotive, AI and other markets, but investors remain focused on the pace of its transition away from handset dependence. Qualcomm: Navigating the shift from handsets to AI
• Negative Sentiment: Sector-wide chip selling is pressuring QCOM. Qualcomm’s legal win has not prevented broader weakness across semiconductor stocks, with investors reducing exposure to chipmakers. Chip selloff following Qualcomm verdict
• Negative Sentiment: Reports that Samsung could replace Qualcomm’s chip in the Galaxy S27 Ultra if thermal issues persist raise concerns about flagship handset share and Qualcomm’s near-term mobile revenue. Samsung may swap Galaxy S27 Ultra chip
• Negative Sentiment: MediaTek’s reported progress toward an AI data-center chip pact with ByteDance highlights increasing competition in Qualcomm’s effort to build an AI and data-center business. ByteDance and MediaTek AI chip pact

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Robert W. Baird set a $400.00 target price on shares of Qualcomm in a report on Thursday, July 30th. Benchmark cut their price target on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Oppenheimer set a $200.00 price objective on Qualcomm in a research report on Monday, July 27th. Zacks Research lowered Qualcomm from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th. Finally, Craig Hallum cut Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Qualcomm presently has an average rating of "Hold" and an average price target of $204.10.

Qualcomm Trading Down 3.5%

Shares of NASDAQ:QCOM opened at $172.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a market cap of $183.79 billion, a P/E ratio of 20.18, a PEG ratio of 4.02 and a beta of 1.65. The stock's fifty day moving average price is $175.02 and its 200-day moving average price is $179.33.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. Qualcomm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts expect that Qualcomm Incorporated will post 7.74 earnings per share for the current year.

Insider Transactions at Qualcomm

In related news, EVP Ann C. Chaplin sold 1,827 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the completion of the sale, the executive vice president owned 18,184 shares in the company, valued at $3,324,944.40. This represents a 12.09% 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 three months, insiders sold 30,958 shares of company stock valued at $5,760,494. Company insiders own 0.05% of the company's stock.

Qualcomm Company Profile

Qualcomm Incorporated NASDAQ: QCOM is a technology company headquartered in San Diego, California, that develops wireless communications technologies, semiconductors and related software. Its products support mobile devices, connected computing, automotive systems, industrial equipment and consumer electronics.

Qualcomm's semiconductor business operates primarily through its Qualcomm CDMA Technologies segment. Its offerings include Snapdragon platforms and systems-on-chip, cellular modems, radio-frequency components, connectivity products, and processors for smartphones, personal computers, extended-reality devices, vehicles and the Internet of Things.

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