FY2026 EPS Estimates for Qualcomm Cut by Erste Group Bank

Key Points

• Erste Group Bank cut its FY2026 EPS estimate for Qualcomm to $7.90 from $8.27, slightly below the current consensus estimate of $7.99 per share. The firm also projected FY2027 EPS at $7.80.
• Qualcomm’s latest quarter beat expectations, posting $2.65 EPS on revenue of $10.60 billion, both just ahead of estimates. However, quarterly revenue still declined 3.5% year over year, and the company guided Q3 2026 EPS to $2.10-$2.30.
• Analyst sentiment remains mixed after several recent rating changes, including upgrades and downgrades, leaving Qualcomm with an overall “Hold” consensus and an average price target of $180.37. The company also boosted its dividend and has an active $20 billion share buyback program.

Qualcomm Incorporated (NASDAQ:QCOM - Free Report) - Stock analysts at Erste Group Bank dropped their FY2026 earnings per share estimates for Qualcomm in a research report issued on Tuesday, May 5th. Erste Group Bank analyst H. Engel now anticipates that the wireless technology company will post earnings per share of $7.90 for the year, down from their previous forecast of $8.27. The consensus estimate for Qualcomm's current full-year earnings is $7.99 per share. Erste Group Bank also issued estimates for Qualcomm's FY2027 earnings at $7.80 EPS.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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 analysts' expectations of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.Qualcomm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS.

Several other brokerages have also recently commented on QCOM. Summit Insights raised Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Cantor Fitzgerald lifted their price objective on Qualcomm from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Argus set a $220.00 price objective on Qualcomm in a report on Friday, May 1st. Sanford C. Bernstein reissued a "market perform" rating and set a $140.00 price objective (down from $175.00) on shares of Qualcomm in a report on Thursday, March 26th. Finally, Wells Fargo & Company cut Qualcomm from a "positive" rating to an "underweight" rating in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $180.37.

Qualcomm Price Performance

Shares of QCOM stock opened at $219.09 on Monday. The stock has a market cap of $230.92 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 27.14 and a beta of 1.49. Qualcomm has a one year low of $121.99 and a one year high of $228.05. The stock has a fifty day moving average price of $138.77 and a 200 day moving average price of $155.88. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders 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 dividend yield of 1.7%. This is a boost from Qualcomm's previous quarterly dividend of $0.89. The ex-dividend date is Thursday, June 4th. Qualcomm's dividend payout ratio is 38.70%.

Qualcomm announced that its Board of Directors has approved a share buyback program on Tuesday, March 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the wireless technology company to repurchase up to 14.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares in the company, valued at approximately $7,065,677.70. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer owned 197,568 shares of the company's stock, valued at approximately $35,562,240. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,977 shares of company stock valued at $2,738,566. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Qualcomm

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oslo Pensjonsforsikring AS acquired a new stake in shares of Qualcomm in the first quarter valued at $723,000. HORAN Wealth LLC increased its stake in shares of Qualcomm by 102.0% in the first quarter. HORAN Wealth LLC now owns 75,446 shares of the wireless technology company's stock valued at $9,954,000 after buying an additional 38,094 shares in the last quarter. DUTCH ASSET Corp increased its stake in shares of Qualcomm by 28.2% in the first quarter. DUTCH ASSET Corp now owns 11,708 shares of the wireless technology company's stock valued at $1,508,000 after buying an additional 2,572 shares in the last quarter. Summit Global Investments increased its stake in shares of Qualcomm by 6.9% in the first quarter. Summit Global Investments now owns 16,465 shares of the wireless technology company's stock valued at $2,120,000 after buying an additional 1,069 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its stake in shares of Qualcomm by 0.8% in the first quarter. Convergence Investment Partners LLC now owns 20,670 shares of the wireless technology company's stock valued at $2,662,000 after buying an additional 160 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Daiwa upgraded Qualcomm to Outperform and lifted its price target to $225, arguing the market is undervaluing Qualcomm’s move into AI infrastructure and data center silicon. Daiwa Just Upgraded Qualcomm to Outperform: $225 Price Target Bets on Data Center AI Pivot
• Positive Sentiment: Qualcomm’s new Snapdragon 6 Gen 5 and Snapdragon 4 Gen 5 mobile chips are fueling optimism that the company can keep extending its product cycle into lower-cost devices while adding AI features. What's driving Qualcomm stock higher?
• Positive Sentiment: Recent coverage highlights Qualcomm’s buyback program, a Snap AR partnership, strong earnings, and custom silicon wins as evidence that the company is successfully pivoting beyond its core smartphone business. Qualcomm Climbs 8% as Buyback, Snap AR Partnership Power Pivot Beyond Smartphones
• Neutral Sentiment: Some traders note the stock has moved sharply higher in a short period, which can make it vulnerable to near-term pullbacks even if the longer-term AI thesis remains intact. Qualcomm Stock Is Soaring Today: What's Going On?
• Neutral Sentiment: Another commentary piece says Qualcomm’s RSI is in overbought territory after the recent run, suggesting momentum may cool before the next leg higher. What's driving Qualcomm stock higher?
• Negative Sentiment: DZ Bank downgraded Qualcomm from Buy to Hold and set a $195 target, reflecting some caution after the sharp rally. Trump Could Put These 8 Stocks In The Spotlight For China Trip: Here Are The CEOs That Could Be Invited

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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