Wilsey Asset Management Inc. Grows Position in Qualcomm Incorporated $QCOM

Key Points

• Wilsey Asset Management dramatically increased its Qualcomm stake by 10,383.2% in the first quarter, ending with 282,313 shares worth about $36.4 million. Qualcomm now represents roughly 5.7% of the firm’s portfolio.
• Qualcomm beat quarterly earnings expectations with EPS of $2.65 versus $2.56 expected, while revenue came in at $10.60 billion, slightly above estimates. The company also issued Q3 2026 EPS guidance of $2.10 to $2.30.
• The board authorized a $20 billion share buyback, equal to as much as 14.5% of outstanding shares. Meanwhile, analysts remain mixed, with a consensus Hold rating and a $220.45 price target.

Wilsey Asset Management Inc. lifted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 10,383.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,313 shares of the wireless technology company's stock after acquiring an additional 279,620 shares during the quarter. Qualcomm makes up about 5.7% of Wilsey Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Wilsey Asset Management Inc.'s holdings in Qualcomm were worth $36,356,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. raised its position in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC bought a new stake in shares of Qualcomm during the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 worth $29,000 after buying an additional 170 shares during the period. Birchwood Financial Partners Inc. bought a new position in Qualcomm in the 4th quarter valued at about $31,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in Qualcomm by 113.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock worth $32,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $176.25 on Monday. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a market capitalization of $185.77 billion, a P/E ratio of 19.16, a P/E/G ratio of 5.24 and a beta of 1.63. The company's 50 day moving average price is $205.65 and its two-hundred day moving average price is $167.87.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. During the same period in the prior year, the business earned $2.85 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities analysts forecast that Qualcomm Incorporated will post 7.96 earnings per share for the current fiscal year.

Qualcomm announced that its board has authorized a share 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 purchase up to 14.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $197.35, for a total transaction of $493,375.00. Following the sale, the executive vice president directly owned 25,684 shares of the company's stock, valued at approximately $5,068,737.40. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of Qualcomm stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $180.00, for a total value of $1,800,000.00. Following the sale, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. The trade was a 4.82% 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. Over the last quarter, insiders have sold 21,721 shares of company stock worth $3,918,290. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Rosenblatt Securities lifted their price target on Qualcomm from $190.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Freedom Capital downgraded Qualcomm from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. TD Cowen restated a "buy" rating and issued a $200.00 price target on shares of Qualcomm in a research note on Thursday, June 25th. HSBC initiated coverage on shares of Qualcomm in a research note on Friday, May 8th. They issued a "buy" rating on the stock. Finally, Craig Hallum cut shares of Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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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