Qualcomm (NASDAQ:QCOM) Shares Up 2.4% - Here's What Happened

Key Points

• Qualcomm shares rose 2.4% on Thursday, trading as high as $196.09 before closing at $191.11, with volume below its daily average.
• Investor sentiment was broadly positive after Qualcomm’s automotive revenue hit a record $1.33 billion in the latest quarter, up 38% year over year, and DBS Bank upgraded the stock to “moderate buy.”
• Analysts remain mixed overall: several firms raised price targets, but MarketBeat shows a consensus rating of “Hold” with a $220.45 target, suggesting further upside may depend on execution.

Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report)'s share price rose 2.4% on Thursday . The company traded as high as $196.09 and last traded at $191.11. 12,826,948 shares were traded during trading, a decline of 24% from the average daily volume of 16,975,406 shares. The stock had previously closed at $186.56.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s automotive business continues to be a major growth driver, with second-quarter fiscal 2026 automotive revenue hitting a record $1.33 billion, up 38% year over year. Will Qualcomm's Automotive Business Continue Driving Top-Line Growth?
• Positive Sentiment: DBS Bank upgraded Qualcomm to “moderate buy,” reinforcing the bullish view that recent pullbacks may have created an opportunity. Zacks.com
• Positive Sentiment: Several bullish commentaries argue Qualcomm’s AI factory push, data center pivot, and diversification could drive a rebound in the second half of 2026. Qualcomm AI Factory Bet Comes as the Semiconductor Pendulum Swings
• Neutral Sentiment: Qualcomm was removed from several Russell growth and defensive indexes, which may affect passive fund flows but does not change the company’s fundamentals. QUALCOMM (QCOM) Leaves Russell Growth Indexes, Is The Stock Cheap Or Pricey?
• Neutral Sentiment: Some research pieces continue to describe Qualcomm as fairly valued or maintain a hold stance, suggesting upside may depend on execution rather than multiple expansion. 3 Beaten Down AI Semiconductor Giants of 1H 2026 That Could Soar in 2H
• Negative Sentiment: Broader semiconductor weakness and prior underperformance versus peers are still weighing on sentiment, keeping some investors cautious. Qualcomm Inc. stock underperforms Wednesday when compared to competitors despite daily gains

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QCOM shares. Mizuho lifted their target price on shares of Qualcomm from $170.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday, June 29th. Melius Research set a $220.00 price target on Qualcomm in a research note on Monday, May 18th. Benchmark lifted their price objective on Qualcomm from $225.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Susquehanna upped their price objective on Qualcomm from $160.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Finally, DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 target price on the stock in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Qualcomm presently has a consensus rating of "Hold" and a consensus target price of $220.45.

Qualcomm Price Performance

The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $201.43 billion, a P/E ratio of 20.77, a P/E/G ratio of 5.44 and a beta of 1.63. The firm has a 50 day moving average price of $208.10 and a 200 day moving average price of $168.10.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced 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. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The firm's revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, analysts forecast that Qualcomm Incorporated will post 7.96 EPS for the current fiscal year.

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

Insider Activity

In other news, CEO Cristiano R. Amon sold 10,000 shares of the 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 directly owned 197,568 shares of the company's stock, valued at $35,562,240. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction on Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president owned 30,684 shares in the company, valued at $3,999,352.56. The trade was a 7.53% 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 21,721 shares of company stock valued at $3,918,290. Company insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Qualcomm

A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. Your Advocates Ltd. LLP bought a new stake in Qualcomm during the 1st quarter valued at approximately $26,000. Richardson Financial Services Inc. lifted its holdings in Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 80 shares in the last quarter. Torren Management LLC bought a new position in Qualcomm in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its stake in Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 170 shares during the period. Finally, Birchwood Financial Partners Inc. purchased a new stake in Qualcomm during the 4th quarter valued at approximately $31,000. 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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