Qualcomm (NASDAQ:QCOM) Shares Up 1.1% - Here's What Happened

Key Points

• Qualcomm shares rose about 1.1% during mid-day trading to $134.47 (intraday high $135.70) on Thursday, with roughly 8.14 million shares traded—about 27% below average volume.
• Several brokers have trimmed price targets and the stock carries a MarketBeat consensus rating of Hold with an average target of $161.73, while Goldman Sachs initiated coverage with a neutral $135 price objective.
• Qualcomm beat Q1 estimates with $3.50 EPS on $12.25 billion revenue, set Q2 guidance of $2.45–2.65 EPS, and its board approved a $20 billion share buyback (about 14.5% of outstanding shares).

Shares of Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report) shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $135.70 and last traded at $134.47. 8,135,807 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 11,100,549 shares. The stock had previously closed at $133.05.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. Weiss Ratings reissued a "hold (c)" rating on shares of Qualcomm in a report on Friday, March 27th. Evercore decreased their price target on shares of Qualcomm from $157.00 to $134.00 and set an "in-line" rating for the company in a report on Thursday, February 5th. Argus decreased their price target on shares of Qualcomm from $205.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 6th. TD Cowen decreased their price target on shares of Qualcomm from $190.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Qualcomm in a research report on Monday, March 30th. They issued a "neutral" rating and a $135.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $161.73.

Qualcomm Stock Up 1.1%

The firm has a market capitalization of $143.48 billion, a P/E ratio of 27.78 and a beta of 1.28. The firm's 50-day moving average is $134.54 and its 200 day moving average is $156.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.83 and a current ratio of 2.51.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The wireless technology company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.38 by $0.12. The business had revenue of $12.25 billion for the quarter, compared to analysts' expectations of $12.16 billion. Qualcomm had a net margin of 11.96% and a return on equity of 44.09%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 EPS. Qualcomm has set its Q2 2026 guidance at 2.450-2.650 EPS. As a group, equities research analysts predict that Qualcomm Incorporated will post 9.39 EPS for the current fiscal year.

Qualcomm announced that its Board of Directors has approved a stock repurchase 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 repurchase 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 Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction dated Monday, February 9th. The shares were 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 $2,245,841. The trade was a 16.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares in the company, valued at $3,999,352.56. This trade represents a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,118 shares of company stock worth $1,233,705 over the last three months. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Qualcomm

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inscription Capital LLC grew its stake in Qualcomm by 58.1% in the 3rd quarter. Inscription Capital LLC now owns 13,055 shares of the wireless technology company's stock valued at $2,172,000 after buying an additional 4,799 shares during the last quarter. Savvy Advisors Inc. grew its stake in Qualcomm by 43.3% in the 4th quarter. Savvy Advisors Inc. now owns 19,102 shares of the wireless technology company's stock valued at $3,267,000 after buying an additional 5,776 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Qualcomm by 1.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,004,339 shares of the wireless technology company's stock valued at $167,082,000 after buying an additional 16,738 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Qualcomm in the 3rd quarter valued at about $725,000. Finally, First National Trust Co grew its stake in Qualcomm by 9.4% in the 3rd quarter. First National Trust Co now owns 57,687 shares of the wireless technology company's stock valued at $9,597,000 after buying an additional 4,976 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

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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