Sierra Summit Advisors LLC Lowers Position in Qualcomm Incorporated $QCOM

Key Points

• Sierra Summit Advisors LLC cut its Qualcomm stake by 76% in the first quarter, selling 37,166 shares and ending with 11,741 shares worth about $1.5 million.
• Qualcomm executives also continued trimming holdings: Heather S. Ace and Akash J. Palkhiwala sold shares in pre-arranged Rule 10b5-1 trades, and insiders sold 21,721 shares over the past three months.
• The company reported better-than-expected quarterly earnings and authorized a $20 billion stock buyback, though the stock was still down about 3.1% and analysts currently rate it a consensus Hold.

Sierra Summit Advisors LLC decreased its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 76.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,741 shares of the wireless technology company's stock after selling 37,166 shares during the quarter. Sierra Summit Advisors LLC's holdings in Qualcomm were worth $1,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Richardson Financial Services Inc. grew its position 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 buying an additional 80 shares during the period. Torren Management LLC purchased a new position in Qualcomm during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its position in Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 170 shares during the period. Birchwood Financial Partners Inc. bought a new stake in Qualcomm during the fourth quarter worth about $31,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in Qualcomm by 113.5% in the fourth 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. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at Qualcomm

In other news, EVP Heather S. Ace sold 3,200 shares of the business's 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 completion of the transaction, the executive vice president directly owned 39,735 shares of the company's stock, valued at $7,065,677.70. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $197.35, for a total transaction of $493,375.00. Following the transaction, the executive vice president owned 25,684 shares in the company, valued at approximately $5,068,737.40. This trade represents a 8.87% 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. Over the last three months, insiders have sold 21,721 shares of company stock valued at $3,918,290. Insiders own 0.05% of the company's stock.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Erste Group Bank slightly raised its FY2027 EPS estimate for Qualcomm, signaling modestly better earnings expectations for the wireless chipmaker. Erste Group Bank lifts FY2027 earnings estimate for Qualcomm
• Neutral Sentiment: Qualcomm was removed from several Russell growth and value indices, which can affect passive-fund ownership and trading flows, but does not change the company’s fundamentals. QUALCOMM (QCOM) Stock Just Lost Its Place In Several Russell Indices
• Neutral Sentiment: Some Wall Street commentary continues to frame Qualcomm as a secondary AI winner rather than a top “AI darling,” adding to debate over how much upside is already priced in. Qualcomm Stock: Not The Next AI Darling (Rating Downgrade)
• Negative Sentiment: Google reportedly chose MediaTek for its Triggerfish TPU work, potentially at Qualcomm’s expense and raising concerns about lost semiconductor design opportunities. Google taps MediaTek to build Triggerfish TPU
• Negative Sentiment: Elon Musk denied reports that SpaceX’s prototype AI device would use Qualcomm Snapdragon chips, removing a speculative catalyst that had helped sentiment earlier. QCOM Stock Slips Toward Fourth Straight Loss After Elon Musk Dismisses Reports
• Negative Sentiment: Broader tech and chip stocks were also weaker as investors rotated out of the sector and interest-rate worries weighed on momentum. SpaceX teases AI device post-IPO; QCOM gains, Apple unfazed

Qualcomm Trading Down 3.1%

Shares of NASDAQ:QCOM opened at $176.25 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 company has a market cap of $185.77 billion, a P/E ratio of 19.16, a PEG ratio of 5.41 and a beta of 1.63. The stock's fifty day moving average price is $204.84 and its 200-day moving average price is $167.89.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.09. The business 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%.Qualcomm's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Sell-side analysts expect that Qualcomm Incorporated will post 7.96 earnings per share for the current year.

Qualcomm declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 14.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Craig Hallum downgraded shares of Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Evercore set a $179.00 price target on Qualcomm in a research report on Thursday, April 30th. Raymond James Financial initiated coverage on Qualcomm in a research report on Thursday, June 25th. They set a "strong-buy" rating for the company. Argus set a $220.00 price objective on Qualcomm in a research note on Friday, May 1st. Finally, UBS Group increased their target price on Qualcomm from $170.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $220.45.

Qualcomm 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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