Qualcomm (NASDAQ:QCOM) EVP Akash Palkhiwala Sells 2,500 Shares

Key Points

• Qualcomm EVP Akash Palkhiwala sold 2,500 shares on July 14 at an average price of $180.81, totaling about $452,025. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• QCOM shares fell 3.2% in Tuesday trading, closing around $178.10. The stock has traded between $121.99 and $259.92 over the past 52 weeks.
• Qualcomm recently reported better-than-expected quarterly earnings, with EPS of $2.65 versus the $2.56 consensus, and revenue of $10.60 billion. The company also has a $20 billion share buyback authorization and a Wall Street consensus rating of Hold.

Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report) EVP Akash Palkhiwala sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $180.81, for a total value of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares in the company, valued at $4,191,899.04. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Qualcomm Trading Down 3.2%

Shares of QCOM traded down $5.88 during trading hours on Tuesday, hitting $178.10. 13,053,004 shares of the stock were exchanged, compared to its average volume of 18,943,436. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The business has a 50-day moving average of $209.51 and a 200-day moving average of $168.41. The firm has a market capitalization of $187.72 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 5.47 and a beta of 1.63. 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 (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. Qualcomm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, research analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current 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.

Hedge Funds Weigh In On Qualcomm

A number of hedge funds have recently added to or reduced their stakes in QCOM. JFS Wealth Advisors LLC boosted its position in shares of Qualcomm by 3.4% during the second quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company's stock valued at $295,000 after buying an additional 53 shares during the last quarter. Wall Street Financial Group Inc. grew its holdings in Qualcomm by 1.9% during the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company's stock worth $564,000 after buying an additional 57 shares in the last quarter. Sunbeam Capital Management LLC raised its position in Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company's stock valued at $303,000 after buying an additional 58 shares during the last quarter. Basepoint Wealth LLC raised its position in Qualcomm by 1.8% in the 1st quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company's stock valued at $429,000 after buying an additional 59 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its stake in Qualcomm by 1.9% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 3,274 shares of the wireless technology company's stock valued at $611,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $300.00 price objective on shares of Qualcomm in a report on Friday, May 1st. The Goldman Sachs Group initiated coverage on Qualcomm in a research report on Thursday, June 25th. They issued a "neutral" rating for the company. Seaport Research Partners reaffirmed a "sell" rating and set a $100.00 price target on shares of Qualcomm in a research note on Monday, March 16th. Wells Fargo & Company raised their price objective on Qualcomm from $230.00 to $265.00 and gave the company an "equal weight" rating in a research note on Thursday, June 25th. Finally, Argus set a $220.00 price objective on Qualcomm in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $221.31.

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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