US Bancorp DE Reduces Holdings in Qualcomm Incorporated $QCOM

Key Points

• US Bancorp DE trimmed its Qualcomm stake by 2.4%, selling 30,266 shares and ending the quarter with 1,207,914 shares worth about $206.6 million.
• Qualcomm beat Q2 EPS (non‑GAAP $2.65) and said it will ship a custom data‑center chip to a “large hyperscaler” this year, but issued below‑consensus Q3 guidance citing a memory‑chip shortage that pressured handset revenue.
• The company’s board authorized a $20 billion share repurchase program (up to 14.5% of shares) and raised the quarterly dividend to $0.92 (annualized $3.68), indicating continued focus on shareholder returns despite near‑term headwinds.

US Bancorp DE decreased its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,207,914 shares of the wireless technology company's stock after selling 30,266 shares during the period. US Bancorp DE owned approximately 0.11% of Qualcomm worth $206,615,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QCOM. Greykasell Wealth Strategies Inc. lifted its holdings in Qualcomm by 1.5% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 4,126 shares of the wireless technology company's stock worth $686,000 after buying an additional 61 shares in the last quarter. Baron Wealth Management LLC lifted its holdings in Qualcomm by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,431 shares of the wireless technology company's stock worth $238,000 after buying an additional 62 shares in the last quarter. Certified Advisory Corp lifted its holdings in Qualcomm by 0.6% during the 3rd quarter. Certified Advisory Corp now owns 10,085 shares of the wireless technology company's stock worth $1,678,000 after buying an additional 62 shares in the last quarter. Elser Financial Planning Inc lifted its holdings in Qualcomm by 3.7% during the 3rd quarter. Elser Financial Planning Inc now owns 1,759 shares of the wireless technology company's stock worth $297,000 after buying an additional 63 shares in the last quarter. Finally, ProVise Management Group LLC lifted its holdings in Qualcomm by 2.6% during the 3rd quarter. ProVise Management Group LLC now owns 2,560 shares of the wireless technology company's stock worth $426,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: CEO optimism on smartphones and AI/data‑center opportunities lifted investor sentiment; management framed the near‑term weakness as mainly memory‑supply related while emphasizing recovery potential. Read More.
• Positive Sentiment: Qualcomm said it will begin shipping a custom data‑center chip to a “large hyperscaler” within the calendar year — a potential new revenue stream beyond mobile that drove the rally. Read More.
• Positive Sentiment: Q2 beat on EPS (non‑GAAP $2.65) and strong per‑share profitability metrics helped offset top‑line weakness and gave investors confidence in margins and cash flow. Read More.
• Neutral Sentiment: Automotive and IoT growth are bright spots—management highlighted traction in those end markets, which supports longer‑term diversification but won’t fully offset consumer memory shortages near term. Read More.
• Negative Sentiment: Third‑quarter guidance came in below consensus (revenue $9.2B–$10.0B; adj. EPS $2.10–$2.30), citing a memory‑chip shortage that will likely pressure handset demand and near‑term revenue. That weak outlook triggered an initial selloff before the AI/datacenter news reversed sentiment. Read More.
• Negative Sentiment: Handset revenue declined materially (reports note ~13% drop in handset sales) and inventories rose; these topline headwinds increase downside risk if memory supply or China smartphone orders don’t recover. Read More.
• Negative Sentiment: Analyst estimate tweaks and mixed price targets remain a restraint; some firms trimmed FY estimates ahead of the print, reflecting uncertainty around recovery timing. Read More.

Insiders Place Their Bets

In related news, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $137.00, for a total value of $438,400.00. Following the completion of the transaction, the executive vice president directly owned 16,393 shares of the company's stock, valued at approximately $2,245,841. This represents a 16.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $137.65, for a total value of $458,787.45. Following the transaction, the executive vice president directly owned 35,599 shares of the company's stock, valued at $4,900,202.35. This represents a 8.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,118 shares of company stock valued at $1,233,705. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Mizuho reduced their price objective on Qualcomm from $160.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, February 5th. Loop Capital upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $185.00 target price for the company in a research report on Tuesday, February 24th. Bank of America started coverage on shares of Qualcomm in a research report on Tuesday, March 10th. They set an "underperform" rating and a $145.00 target price for the company. Summit Insights upgraded shares of Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, TD Cowen reiterated a "buy" rating on shares of Qualcomm in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $158.04.

Qualcomm Price Performance

QCOM opened at $156.00 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.51 and a debt-to-equity ratio of 0.64. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $205.95. The company has a fifty day simple moving average of $134.93 and a 200 day simple moving average of $155.16. The stock has a market cap of $166.45 billion, a P/E ratio of 32.23 and a beta of 1.28.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 11.96% and a return on equity of 44.09%. The business had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.59 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The firm's quarterly revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, research analysts expect that Qualcomm Incorporated will post 8.21 EPS for the current year.

Qualcomm announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the wireless technology company to buy up to 14.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board 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 paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, June 4th. This is a boost from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's dividend payout ratio (DPR) is currently 73.55%.

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.

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.