Spectrum Financial Alliance Ltd LLC Purchases 18,814 Shares of Qualcomm Incorporated $QCOM

Key Points

• Spectrum Financial Alliance Ltd LLC increased its Qualcomm stake by 6.2% in the first quarter, buying 18,814 additional shares and bringing its total holding to 322,430 shares worth about $41.5 million.
• Qualcomm reported better-than-expected quarterly earnings of $2.65 per share on revenue of $10.60 billion, while also announcing a $20 billion share repurchase program that could cover up to 14.5% of shares outstanding.
• Despite recent weakness in the stock price, analysts remain broadly mixed to positive, with multiple buy ratings and a consensus Hold rating, alongside an average price target of $220.45.

Spectrum Financial Alliance Ltd LLC boosted its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 322,430 shares of the wireless technology company's stock after buying an additional 18,814 shares during the quarter. Qualcomm makes up about 8.0% of Spectrum Financial Alliance Ltd LLC's portfolio, making the stock its 7th biggest position. Spectrum Financial Alliance Ltd LLC's holdings in Qualcomm were worth $41,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Norges Bank bought a new stake in Qualcomm during the fourth quarter worth about $2,591,056,000. Wellington Management Group LLP lifted its holdings in Qualcomm by 141.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock valued at $2,069,059,000 after purchasing an additional 7,292,783 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after buying an additional 3,221,924 shares during the period. Invesco Ltd. boosted its holdings in shares of Qualcomm by 28.1% during the fourth quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company's stock worth $2,163,030,000 after acquiring an additional 2,771,490 shares during the period. Finally, Viking Global Investors LP boosted its stake in Qualcomm by 120.1% in the 2nd quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company's stock valued at $502,125,000 after purchasing an additional 1,720,529 shares during the period. 74.35% of the stock is owned by institutional investors.

Qualcomm Stock Down 1.0%

Shares of NASDAQ:QCOM traded down $1.95 during midday trading on Friday, hitting $189.16. 7,059,391 shares of the company's stock were exchanged, compared to its average volume of 19,346,306. 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 12 month low of $121.99 and a 12 month high of $259.92. The company has a market cap of $199.37 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 5.69 and a beta of 1.63. The stock has a 50 day moving average price of $209.59 and a 200-day moving average price of $168.36.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion during 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 quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts anticipate that Qualcomm Incorporated will post 7.96 EPS for the current fiscal year.

Qualcomm declared that its board has initiated a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on QCOM shares. HSBC assumed coverage on shares of Qualcomm in a report on Friday, May 8th. They issued a "buy" rating for the company. Evercore set a $179.00 price objective on Qualcomm in a research note on Thursday, April 30th. Roth Capital assumed coverage on shares of Qualcomm in a research note on Friday, May 8th. They set a "buy" rating on the stock. Argus set a $220.00 price objective on Qualcomm in a research note on Friday, May 1st. Finally, Mizuho increased their price objective on Qualcomm from $170.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, June 29th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $220.45.

More Qualcomm News

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

Insider Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction 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 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 position. The transaction 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 Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the completion of the sale, the executive vice president owned 30,684 shares of the company's stock, valued at approximately $3,999,352.56. This represents a 7.53% decrease in their position. 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 21,721 shares of company stock valued at $3,918,290 over the last quarter. 0.05% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.