Qualcomm's (QCOM) "Underweight" Rating Reaffirmed at Barclays

Key Points

• Barclays reaffirmed an "Underweight" rating on Qualcomm with a $130 price target (about a 4.1% downside), while several other firms have trimmed targets and the consensus sits at a Hold rating with an average price target of $158.25.
• Qualcomm beat Q1 estimates ($3.50 EPS on $12.25B revenue) and gave Q2 EPS guidance of 2.45–2.65, and its board authorized a $20 billion buyback and recently raised the dividend, signaling management support for the stock.
• Near-term risks include analyst downgrades citing rising memory prices and prolonged smartphone weakness, alongside recent insider selling and cooled technical momentum that could amplify downside pressure.

Qualcomm (NASDAQ:QCOM - Get Free Report)'s stock had its "underweight" rating restated by analysts at Barclays in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $130.00 price target on the wireless technology company's stock. Barclays's target price would suggest a potential downside of 4.10% from the stock's previous close.

Several other research firms also recently weighed in on QCOM. Royal Bank Of Canada reduced their price objective on shares of Qualcomm from $180.00 to $150.00 and set a "sector perform" rating for the company in a report on Thursday, February 5th. Robert W. Baird set a $177.00 target price on shares of Qualcomm in a research report on Thursday, February 5th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $140.00 target price (down from $175.00) on shares of Qualcomm in a research report on Thursday, March 26th. Susquehanna lowered shares of Qualcomm from a "positive" rating to a "neutral" rating and set a $140.00 target price for the company. in a research report on Thursday, February 5th. Finally, UBS Group decreased their target price on shares of Qualcomm from $160.00 to $150.00 and set a "neutral" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $158.25.

Qualcomm Price Performance

Shares of QCOM opened at $135.56 on Wednesday. The company has a market cap of $144.64 billion, a P/E ratio of 28.01 and a beta of 1.28. The stock has a fifty day moving average price of $134.36 and a 200 day moving average price of $155.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.51 and a quick ratio of 1.83. Qualcomm has a 12 month low of $121.99 and a 12 month high of $205.95.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The wireless technology company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.12. The firm had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.16 billion. Qualcomm had a return on equity of 44.09% and a net margin of 11.96%.The firm's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 EPS. Qualcomm has set its Q2 2026 guidance at 2.450-2.650 EPS. On average, research analysts forecast that Qualcomm will post 8.25 earnings per share for the current year.

Qualcomm declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 17th that permits the company to buyback $20.00 billion in 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 leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 35,599 shares of the company's stock, valued at $4,900,202.35. This trade represents a 8.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $137.00, for a total value of $438,400.00. Following the transaction, the executive vice president directly owned 16,393 shares of the company's stock, valued at $2,245,841. This represents a 16.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,118 shares of company stock valued at $1,233,705 in the last ninety days. Company insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its stake in Qualcomm by 72.2% during the third quarter. Harbor Capital Advisors Inc. now owns 155 shares of the wireless technology company's stock valued at $26,000 after buying an additional 65 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Qualcomm during the third quarter valued at $27,000. Richardson Financial Services Inc. boosted its position in shares of Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC purchased a new position in Qualcomm in the 4th quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after buying an additional 170 shares during the period. Institutional investors own 74.35% of the company's stock.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm raised its dividend recently, which supports income-focused investors and can underpin investor confidence even amid near-term weakness. Qualcomm Just Increased Its Dividend. Should You Buy QCOM Stock Here?
• Neutral Sentiment: Regulatory and lobbying activity disclosed a large Q1 lobbying spend (~$1.68M) on transportation, AI/6G and semiconductor tax-credit issues — signals of strategic focus but not an immediate financial catalyst. Insider trading data shows meaningful insider sales and mixed institutional flows, which can weigh on sentiment but are not definitive drivers of fundamentals. Lobbying Update: $1,680,000 of QUALCOMM INCORPORATED lobbying was just disclosed
• Neutral Sentiment: Technical momentum cooled: the stock’s nine-day rally ended and short-term trading dynamics flipped from steady buying to profit-taking, which can amplify moves when negative news appears. Qualcomm snaps nine-day winning streak
• Negative Sentiment: UBS trimmed its price target to $150, highlighting a new sector headwind: rising memory prices that can pressure chip makers’ cost structures and margins — this narrative increases downside risk for semiconductor suppliers and OEM cyclicality. UBS Trims Qualcomm's Target to $150: Why Rising Memory Prices Are Becoming a Chip Stock Headwind
• Negative Sentiment: BNP Paribas downgraded QCOM to Neutral and cut its target sharply to $120, citing ongoing smartphone weakness with “no end in sight” — a direct hit to demand expectations for Qualcomm’s primary markets and a likely reason for near-term selling pressure. BNP Paribas Cuts QUALCOMM (QCOM) Target on Ongoing Smartphone Weakness
• Neutral Sentiment: Market write-ups summarizing the day point to the analyst downgrades and the end of the short-term rally as the proximate causes of the decline — coverage is reflecting and reinforcing those catalysts. Why Qualcomm (QCOM) Dipped More Than Broader Market Today

Qualcomm Company Profile

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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