Viking Fund Management LLC Reduces Position in Qualcomm Incorporated $QCOM

Key Points

• Viking Fund Management reduced its Qualcomm stake by 5.5% in the second quarter, selling 4,100 shares and retaining 70,900 shares valued at approximately $13.1 million. Institutional investors collectively own 74.35% of the company.
• Analyst views remain mixed: Qualcomm has a consensus “Hold” rating and an average price target of $203.63, with targets ranging from $160 to $280.
• Qualcomm’s latest quarter included a slight EPS miss and a 4% year-over-year revenue decline, though revenue exceeded expectations. The company declared a quarterly dividend of $0.92, equivalent to a 2.3% annualized yield.

Viking Fund Management LLC decreased its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,900 shares of the wireless technology company's stock after selling 4,100 shares during the quarter. Viking Fund Management LLC's holdings in Qualcomm were worth $13,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC grew its position in Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company's stock valued at $295,000 after acquiring an additional 53 shares during the last quarter. Basepoint Wealth LLC increased its stake in Qualcomm by 1.8% in the first quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company's stock worth $429,000 after purchasing an additional 59 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its position in shares of Qualcomm by 1.9% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 3,274 shares of the wireless technology company's stock worth $611,000 after purchasing an additional 62 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of Qualcomm by 0.5% during the first quarter. Modern Wealth Management LLC now owns 13,704 shares of the wireless technology company's stock worth $1,744,000 after purchasing an additional 64 shares during the last quarter. Finally, Dakota Community Bank & Trust NA increased its stake in Qualcomm by 3.6% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,847 shares of the wireless technology company's stock worth $316,000 after buying an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Tigress Financial lifted their price target on shares of Qualcomm from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $160.00 price target on Qualcomm in a report on Thursday, July 30th. Finally, DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price objective on the stock in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $203.63.

Qualcomm Stock Up 0.2%

Shares of Qualcomm stock opened at $163.07 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The firm's 50-day moving average is $185.28 and its two-hundred day moving average is $167.67. The stock has a market cap of $171.26 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 14.97 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the prior year, the firm posted $2.77 EPS. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, research analysts expect that Qualcomm Incorporated will post 7.76 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. Qualcomm's payout ratio is 42.59%.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s neural-processing-unit (NPU) strategy could benefit from rising demand for on-device AI in PCs, smartphones and other hardware. This raises the possibility of a broader hardware upgrade cycle and provides a bullish counterpoint to concerns about slowing handset revenue. Forget the Cloud: Qualcomm's NPU Play May Trigger a Hardware Supercycle
• Positive Sentiment: One market commentary argues that investors may be underestimating Qualcomm’s potential, particularly if the company can reduce its dependence on smartphones and expand in automotive, IoT and AI-related markets. Prediction: This Chipmaker Could Be a Bigger Winner Than Investors Think
• Neutral Sentiment: Qualcomm is among the semiconductor companies expected to receive attention during Jim Cramer’s CNBC Investing Club call, which could increase near-term investor focus but does not represent a fundamental change. 5 Semiconductor Stocks Jim Cramer Could Be Talking About on Thursday
• Negative Sentiment: Qualcomm’s latest quarter included a small EPS miss, year-over-year revenue and earnings declines, and fourth-quarter revenue guidance of $9.7 billion to $10.5 billion. The company said the bottom may be near, but the results reinforce concerns about handset weakness. QUALCOMM Issued Q4 Guidance, Is The 17% Discount Enough?
• Negative Sentiment: Erste Group reduced its FY2026 EPS forecast to $7.71 from $7.91 and its FY2027 forecast to $7.46 from $7.90, signaling weaker expected profitability than previously anticipated.
• Negative Sentiment: Qualcomm EVP Akash J. Palkhiwala sold 2,500 shares worth approximately $408,000. The sale occurred under a pre-arranged Rule 10b5-1 plan, limiting its significance, but it may still add modest selling pressure.
• Negative Sentiment: Compared with Qualcomm, Zacks views Intel as the better chip investment because of stronger projected 2026 growth and AI-PC momentum, highlighting concerns about Qualcomm’s slower near-term growth profile. Intel vs. Qualcomm: Which Chip Stock is the Better Buy Now?

Insider Buying and Selling

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the sale, the executive vice president directly owned 20,684 shares in the company, valued at $3,376,869.84. This trade represents a 10.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,529 shares of company stock valued at $1,991,345 over the last 90 days. Corporate insiders own 0.05% of the company's stock.

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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