Qualcomm Incorporated $QCOM Shares Sold by Smead Capital Management Inc.

Key Points

• Smead Capital Management cut its Qualcomm stake by 6.5% in the fourth quarter, selling 43,449 shares and leaving it with 626,937 shares valued at about $107.2 million.
• Qualcomm reported fiscal Q2 results that beat earnings expectations, with EPS of $2.65 versus $2.56 expected and revenue of $10.60 billion versus $10.59 billion expected, though revenue still declined 3.5% year over year.
• The company boosted its quarterly dividend to $0.92 per share and also authorized a $20 billion stock buyback program, signaling management confidence in the stock.

Smead Capital Management Inc. trimmed its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 626,937 shares of the wireless technology company's stock after selling 43,449 shares during the period. Qualcomm accounts for approximately 2.2% of Smead Capital Management Inc.'s holdings, making the stock its 22nd largest holding. Smead Capital Management Inc. owned approximately 0.06% of Qualcomm worth $107,238,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in shares of Qualcomm in the 3rd quarter worth about $27,000. Richardson Financial Services Inc. raised its holdings in shares of Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC purchased a new position in shares of Qualcomm in the 4th quarter worth about $29,000. Glass Jacobson Investment Advisors llc raised its holdings in shares of Qualcomm by 113.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock worth $32,000 after purchasing an additional 101 shares during the period. Finally, Board of the Pension Protection Fund purchased a new position in shares of Qualcomm in the 4th quarter worth about $34,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Qualcomm Stock Performance

Shares of NASDAQ:QCOM opened at $238.16 on Friday. The company has a market cap of $251.02 billion, a P/E ratio of 25.89, a PEG ratio of 29.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $247.90. The business's 50-day simple moving average is $154.82 and its 200 day simple moving average is $158.89.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its earnings results 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 business had revenue of $10.60 billion for 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 revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts forecast that Qualcomm Incorporated will post 7.99 earnings per share for the current fiscal year.

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

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 issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, June 4th. This is an increase from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's dividend payout ratio (DPR) is 38.70%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 10,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $180.00, for a total transaction of $1,800,000.00. Following the sale, the chief executive officer directly owned 197,568 shares in the company, valued at approximately $35,562,240. This trade represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 dated Tuesday, May 12th. The shares were sold at an average price of $211.90, for a total value of $529,750.00. Following the sale, the executive vice president owned 28,184 shares in the company, valued at approximately $5,972,189.60. The trade was a 8.15% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 19,306 shares of company stock valued at $3,435,583. Corporate insiders own 0.05% of the company's stock.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Stellantis expanded its multi-year technology partnership with Qualcomm, strengthening Qualcomm’s position in AI-enabled connected and autonomous vehicles. Qualcomm soars 12% as Stellantis deepens AI vehicle partnership
• Positive Sentiment: Analysts and market commentary highlighted Qualcomm’s strong comeback and suggested the rally may continue, with some calling for meaningful further upside. Prediction: Analysts Say Qualcomm Stock Is Set For A Massive Breakout
• Neutral Sentiment: Additional coverage framed Qualcomm as a beneficiary of broader AI and mobile-chip enthusiasm, with shares moving alongside other chip names such as Skyworks and Qorvo. Qualcomm Surges 12%, Skyworks Rallies 9%, Qorvo Rises 7%
• Neutral Sentiment: Insider and congressional stock sales were disclosed, but they appear modest relative to Qualcomm’s size and some transactions were pre-arranged, so the impact is likely limited. Patricia Grech Sells 829 Shares of Qualcomm NASDAQ: QCOM Stock

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore set a $179.00 price objective on Qualcomm in a report on Thursday, April 30th. Daiwa Securities Group upgraded Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price objective on the stock in a report on Friday, May 8th. Cantor Fitzgerald raised their price objective on Qualcomm from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. BNP Paribas Exane downgraded Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Finally, Barclays raised their price objective on Qualcomm from $130.00 to $150.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Fourteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Qualcomm presently has an average rating of "Hold" and an average target price of $181.79.

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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