Qualcomm (NASDAQ:QCOM) Trading Down 6.9% – Here’s What Happened

Qualcomm Incorporated (NASDAQ:QCOM) was down 6.9% during trading on Wednesday . The stock traded as low as $190.10 and last traded at $191.20. Approximately 18,093,033 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 16,246,167 shares. The stock had previously closed at $205.42.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Wells Fargo raised its price target on Qualcomm to $230 from $160, signaling improved long-term expectations for the stock. Wall Street sets Qualcomm stock price target for 2027
• Positive Sentiment: Coverage highlighting Qualcomm’s AI ecosystem expanding into humanoid robots and autonomous vehicles is boosting sentiment around growth beyond smartphones. Qualcomm’s AI Ecosystem Extends To Humanoid Robots And Autonomous Vehicles
• Positive Sentiment: QCraft said it demonstrated urban NOA on Qualcomm’s Snapdragon Ride platform and is targeting mass production in 2026, supporting Qualcomm’s automotive revenue story. QCraft Demonstrates Urban NOA on Qualcomm’s Latest Snapdragon Ride SoC, Targets 2026 Global Mass Production
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate, a modest headwind but not a major change to the outlook.
• Negative Sentiment: EVP Akash Palkhiwala sold 2,500 shares in a pre-arranged 10b5-1 plan, which may create a small overhang even though the sale was routine. SEC filing for Akash J. Palkhiwala transaction
• Negative Sentiment: Recent commentary notes Qualcomm has also been caught in a broader semiconductor pullback and some profit-taking after a strong AI-driven run, which can weigh on the shares near term. Qualcomm Slips, Shorter-Term Momentum Cools From Roller Coaster AI Highs

Analyst Ratings Changes

Several equities research analysts recently commented on QCOM shares. The Goldman Sachs Group started coverage on shares of Qualcomm in a report on Monday, March 30th. They issued a “neutral” rating and a $135.00 price target for the company. Bank of America started coverage on shares of Qualcomm in a report on Tuesday, March 10th. They issued an “underperform” rating and a $145.00 price target for the company. Wells Fargo & Company reissued a “positive” rating on shares of Qualcomm in a report on Friday. Royal Bank Of Canada boosted their price target on shares of Qualcomm from $150.00 to $175.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 target price on shares of Qualcomm in a report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $184.29.

Qualcomm Price Performance

The firm has a market cap of $223.15 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 23.65 and a beta of 1.59. The stock’s fifty day moving average price is $182.74 and its 200-day moving average price is $164.53. 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) last released its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. During the same quarter in the prior year, the firm earned $2.85 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities analysts expect that Qualcomm Incorporated will post 8 EPS for the current fiscal year.

Qualcomm Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Qualcomm’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.7%. Qualcomm’s payout ratio is currently 40.00%.

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 buy up to 14.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the transaction, the executive vice president owned 39,735 shares of the company’s stock, valued at approximately $7,065,677.70. The trade was a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the transaction, the executive vice president directly owned 30,684 shares in the company, valued at approximately $3,999,352.56. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 21,806 shares of company stock worth $3,928,958. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QCOM. Norges Bank acquired a new position in shares of Qualcomm during the 4th quarter valued at about $2,591,056,000. Wellington Management Group LLP lifted its position in Qualcomm by 141.8% in the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company’s stock valued at $2,069,059,000 after buying an additional 7,292,783 shares during the last quarter. Geode Capital Management LLC lifted its position in Qualcomm by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock valued at $4,931,968,000 after buying an additional 3,221,924 shares during the last quarter. Invesco Ltd. lifted its position in Qualcomm by 28.1% in the fourth quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company’s stock valued at $2,163,030,000 after buying an additional 2,771,490 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Qualcomm by 36.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company’s stock valued at $1,090,025,000 after buying an additional 1,764,252 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.