JPMorgan Chase & Co. Issues Positive Forecast for Qualcomm (NASDAQ:QCOM) Stock Price

Key Points

• JPMorgan raised its price target on Qualcomm to $160 but kept a "neutral" rating, a target that implies roughly a 10.9% downside from the stock's recent price.
• Qualcomm beat Q2 EPS estimates ($2.65 vs. $2.56) and the shares jumped ~15% to $179.58, yet management's Q3 guidance (revenue ~$9.2B–$10.0B; EPS $2.10–$2.30) came in below Street expectations, highlighting near‑term handset and memory headwinds.
• The board authorized a $20 billion share buyback (up to ~14.5% of shares) amid mixed analyst views—MarketBeat shows a consensus "Hold" with an average target around $165.88 and a wide range of buy/hold/sell ratings.

Qualcomm (NASDAQ:QCOM - Get Free Report) had its target price hoisted by JPMorgan Chase & Co. from $140.00 to $160.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the wireless technology company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 10.90% from the company's current price.

A number of other brokerages have also commented on QCOM. Loop Capital upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Tuesday, February 24th. Argus reduced their price target on Qualcomm from $205.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Seaport Research Partners reissued a "sell" rating and issued a $100.00 price target on shares of Qualcomm in a research note on Monday, March 16th. TD Cowen lifted their price objective on Qualcomm from $150.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Summit Insights raised shares of Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $165.88.

Qualcomm Trading Up 15.1%

Shares of QCOM stock traded up $23.58 during mid-day trading on Thursday, reaching $179.58. 61,055,279 shares of the stock traded hands, compared to its average volume of 12,697,006. The company has a market cap of $191.61 billion, a price-to-earnings ratio of 37.10 and a beta of 1.28. The company has a quick ratio of 1.83, a current ratio of 2.51 and a debt-to-equity ratio of 0.64. The stock's fifty day simple moving average is $134.93 and its two-hundred day simple moving average is $155.16. Qualcomm has a 1-year low of $121.99 and a 1-year high of $205.95.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (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 analyst estimates of $10.59 billion. During the same quarter last year, the business 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 anticipate that Qualcomm will post 8.21 EPS for the current fiscal year.

Qualcomm announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $137.65, for a total transaction of $458,787.45. Following the transaction, the executive vice president directly owned 35,599 shares in the company, valued at approximately $4,900,202.35. This represents a 8.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $137.00, for a total transaction of $438,400.00. Following the sale, the executive vice president directly owned 16,393 shares of the company's stock, valued at approximately $2,245,841. This trade represents a 16.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 9,118 shares of company stock worth $1,233,705. Insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Qualcomm

A number of institutional investors and hedge funds have recently made changes to their positions in QCOM. First Horizon Corp lifted its holdings in shares of Qualcomm by 181.4% in the 1st quarter. First Horizon Corp now owns 33,224 shares of the wireless technology company's stock worth $4,279,000 after purchasing an additional 21,417 shares in the last quarter. Mosaic Family Wealth Partners LLC bought a new stake in Qualcomm during the 1st quarter valued at $405,000. Stronghold Wealth Management L.L.C. raised its holdings in Qualcomm by 3.5% during the first quarter. Stronghold Wealth Management L.L.C. now owns 2,815 shares of the wireless technology company's stock worth $363,000 after buying an additional 94 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Qualcomm by 12.3% during the first quarter. Kestra Advisory Services LLC now owns 166,111 shares of the wireless technology company's stock worth $21,392,000 after buying an additional 18,196 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its stake in shares of Qualcomm by 25.7% in the first quarter. Money Concepts Capital Corp now owns 2,729 shares of the wireless technology company's stock valued at $351,000 after buying an additional 558 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Management said Qualcomm will begin shipping a custom data‑center chip to “a large hyperscaler” within the calendar year — a potential multi‑year revenue and margin catalyst that drove much of the rally. Qualcomm shares jump as optimism on smartphones, AI chips outweigh dismal forecast
• Positive Sentiment: Q2 results: adjusted EPS beat consensus ($2.65 vs. ~$2.56) and revenue was roughly in line (~$10.6B); management highlighted growth in automotive and IoT which is helping offset handset pressure. Qualcomm (QCOM) Beats Q2 Earnings Estimates
• Positive Sentiment: Analysts and brokers lifted ratings/targets after the print — multiple firms raised targets to ~$160 and Benchmark boosted its target to $225 — adding buy‑side momentum and validating the data‑center narrative. Wall Street Lifts Qualcomm Price Target to $160 on AI Ramp
• Neutral Sentiment: Technical indicators show momentum after a period of underperformance versus peers; some technicians view the move as a breakout, which can attract momentum traders but may be short‑lived. Is Qualcomm Ready for Primetime? What the Technicals Say.
• Negative Sentiment: Management’s Q3 guidance came in below Street expectations ($9.2B–$10.0B vs. ~$10.2B consensus; EPS guide 2.10–2.30 vs. ~2.30), citing a memory‑chip shortage and near‑term handset weakness — risks that prompted an initial selloff before the rally. Qualcomm quarterly forecast underwhelms, but CEO says worst of memory crunch over
• Negative Sentiment: Handset revenue declines and inventory/memory supply dynamics remain a medium‑term headwind; some analysts warn the hyperscaler deal may take time to scale and won’t offset near‑term softness. Qualcomm's hyperscaler win overshadows weak results: analysts

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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