Qualcomm (NASDAQ:QCOM) Rating Increased to Hold at Zacks Research

Key Points

• Zacks upgraded Qualcomm from a "strong sell" to a "hold"; the Street consensus remains a Hold with an average price target of $172.40 amid mixed analyst ratings.
• Qualcomm slightly beat quarterly EPS expectations ($2.65 vs. $2.56) and gave Q3 2026 guidance of $2.10–$2.30, while revenue was $10.6 billion, down about 3.5% year‑over‑year.
• Shares jumped roughly 11% after announcements of hyperscaler AI wins and initial data‑center AI silicon shipments and the Board approving a $20 billion share‑repurchase plan (up to 14.5% of shares), though recent insider sales add short‑term selling pressure.

Qualcomm (NASDAQ:QCOM - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Benchmark boosted their target price on Qualcomm from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Summit Insights upgraded Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Sanford C. Bernstein reissued a "market perform" rating and issued a $140.00 price target (down from $175.00) on shares of Qualcomm in a research note on Thursday, March 26th. Bank of America started coverage on Qualcomm in a report on Tuesday, March 10th. They set an "underperform" rating and a $145.00 price objective on the stock. Finally, Barclays raised their target price on shares of Qualcomm from $130.00 to $150.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $172.40.

Qualcomm Trading Up 10.9%

Shares of NASDAQ:QCOM opened at $186.67 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The stock has a market capitalization of $196.75 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 20.78 and a beta of 1.49. Qualcomm has a 1-year low of $121.99 and a 1-year high of $205.95. The company has a 50 day moving average price of $136.57 and a 200 day moving average price of $155.41.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The company had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.59 billion. During the same quarter in the prior year, the company earned $2.85 earnings per share. The firm's 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 8.02 EPS for the current fiscal year.

Qualcomm declared that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 192 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $172.00, for a total value of $33,024.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the executive vice president owned 35,599 shares of the company's stock, valued at approximately $4,900,202.35. The trade was a 8.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,510 shares of company stock worth $3,635,753 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Qualcomm

Institutional investors have recently bought and sold shares of the company. Independent Financial Group LLC purchased a new position in Qualcomm in the first quarter valued at about $4,149,000. Enterprise Financial Services Corp raised its stake in shares of Qualcomm by 25.2% during the 1st quarter. Enterprise Financial Services Corp now owns 2,280 shares of the wireless technology company's stock worth $294,000 after purchasing an additional 459 shares in the last quarter. Smart Money Group LLC raised its stake in shares of Qualcomm by 8.2% during the 1st quarter. Smart Money Group LLC now owns 6,922 shares of the wireless technology company's stock worth $891,000 after purchasing an additional 523 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Qualcomm during the 1st quarter valued at about $42,129,000. Finally, Noesis Capital Mangement Corp grew its stake in shares of Qualcomm by 3.1% in the 1st quarter. Noesis Capital Mangement Corp now owns 130,114 shares of the wireless technology company's stock valued at $16,756,000 after buying an additional 3,954 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Major hyperscaler win and initial shipments of custom data‑center AI silicon, showing Qualcomm is entering AI infrastructure and diversifying revenue away from handsets. QUALCOMM Is Up After Hyperscaler AI Win
• Positive Sentiment: Board approved a $20 billion share‑repurchase program and the company raised its quarterly dividend, both of which boost shareholder returns and signal confidence from management/board. QUALCOMM Is Up After Hyperscaler AI Win
• Positive Sentiment: Record automotive revenue and accelerating shipments for vehicle platforms provide a second structural growth engine (automotive + AI silicon) that supports higher long‑term revenue visibility. Qualcomm’s AI Chips And Automotive Growth Reshape Its Investment Story
• Neutral Sentiment: Cantor Fitzgerald raised its price target to $150 but kept a Neutral rating — a modest analyst lift that tempers downside but isn't a full conviction upgrade. Cantor Fitzgerald Raises PT on QUALCOMM
• Neutral Sentiment: Industry context: competitor moves (Intel hiring a former Qualcomm exec) and the broader “chip divide” narrative—investors should weigh Qualcomm’s AI/design wins against rising competitive intensity from Intel and AMD. Intel appoints Qualcomm executive The Great Chip Divide
• Negative Sentiment: Insider sales: CEO Cristiano Amon and EVP Heather Ace sold shares under 10b5‑1 plans; such high‑profile sales can add short‑term selling pressure despite being pre‑arranged. Amon SEC filing Ace SEC filing
• Negative Sentiment: Bearish commentary and “sell into the hype” takes emphasize persistent handset weakness and near‑term cyclicality; the transition to AI/automotive revenue will take time and execution risk remains. Bear of the Day: Qualcomm Qualcomm: Sell Into The Hype

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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