Qualcomm Incorporated $QCOM Shares Bought by First Horizon Corp

Key Points

• First Horizon Corp increased its Qualcomm stake by 181.4% in the first quarter, buying an additional 21,417 shares and bringing its total holding to 33,224 shares worth about $4.28 million.
• Qualcomm reported quarterly EPS of $2.65, topping estimates, while revenue came in at $10.60 billion, essentially in line with expectations but down 3.5% from a year earlier.
• The company’s board approved a $20 billion share buyback program, and recent analyst moves were mixed but leaned constructive, with Qualcomm carrying a consensus rating of Hold and an average price target of $220.45.

First Horizon Corp grew its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 181.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,224 shares of the wireless technology company's stock after purchasing an additional 21,417 shares during the quarter. First Horizon Corp's holdings in Qualcomm were worth $4,279,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Your Advocates Ltd. LLP acquired a new position in Qualcomm during the first quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its holdings in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 80 shares during the period. Torren Management LLC acquired a new stake in shares of Qualcomm in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after acquiring an additional 170 shares during the last quarter. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of Qualcomm during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $189.16 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The firm has a market cap of $199.37 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 5.69 and a beta of 1.63. The firm's fifty day moving average price is $209.59 and its 200 day moving average price is $168.36.

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 analysts' consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. During the same quarter last year, the firm posted $2.85 EPS. The business's revenue was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its board has approved a share buyback program on Tuesday, March 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Benchmark upped their price target on shares of Qualcomm from $225.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Barclays raised shares of Qualcomm from an "underweight" rating to an "overweight" rating in a research report on Thursday, June 25th. Bank of America lifted their price objective on shares of Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a research note on Tuesday, June 23rd. DZ Bank upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 target price for the company in a research note on Friday, June 26th. Finally, Cantor Fitzgerald set a $220.00 price target on Qualcomm and gave the stock a "neutral" rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $220.45.

Insider Activity at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of the 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $569,024.00. Following the sale, the executive vice president owned 39,735 shares of the company's stock, valued at approximately $7,065,677.70. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 21,721 shares of company stock valued at $3,918,290. 0.05% of the stock is owned by corporate insiders.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Multiple recent pieces argue Qualcomm has more upside, including bullish price-target work and comparisons with other semiconductor names, with investors focused on its AI, data-center, and server growth potential. The Road To $380 For Qualcomm Stock
• Positive Sentiment: Analysts and market commentators highlighted Qualcomm’s expanding AI-focused portfolio and ongoing opportunities in emerging AI markets, which can reinforce the stock’s long-term growth narrative. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
• Positive Sentiment: Qualcomm’s automotive business continues to stand out, with record revenue and strong Snapdragon Digital Chassis adoption helping support the idea that growth is broadening beyond smartphones. Will Qualcomm's Automotive Business Continue Driving Top-Line Growth?
• Positive Sentiment: Recent analyst upgrades, including DBS Bank’s move to “moderate buy,” and other bullish notes suggest Wall Street sentiment is improving. Monolithic vs. Qualcomm: Which Semiconductor Stock Has More Upside?
• Neutral Sentiment: One report said Qualcomm was the recipient of a large increase in short interest, but the figures shown were zero shares, so the data appears inconclusive and is unlikely to be a major driver. Short Interest Update
• Negative Sentiment: Qualcomm’s late-June removal from several Russell growth and defensive indices may still pressure the stock through passive index-related selling, even as fundamentals and AI-related headlines improve sentiment. How Investors Are Reacting To QUALCOMM (QCOM) Index Removal And New On-Device AI Deepfake Partnership

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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