The Neutral initiation from a below-average firm adds no edge. The real signal is the persistent insider selling and aggressive EPS downgrades — traders should remain cautious until the revision cycle turns or insider buying resumes.
Price Chart
Executive Summary
Piper Sandler initiated coverage on QCOM at Neutral with a $190 price target, implying 7.7% upside from the current $176.40. The firm's 54% accuracy on 3,744 calls and -4.6% average return rank it below average among covering analysts. Consensus is heavily tilted bullish with 69% Buy-equivalent ratings (20 Buy/Strong Buy, 26 Hold, 3 Sell) across 49 analysts. The mean price target of $193.90 offers 9.9% upside, but the median is just $175 — essentially flat to current levels. EPS revisions have been sharply negative, with 27 downward revisions in the last 30 days for the current fiscal year versus just 1 upward. Insider selling continues, with CFO Palkhiwala and director Grech selling over $327k combined in August. The Neutral initiation from a below-average-accuracy firm adds little conviction to an already cautious consensus median.
Impact Score
Consensus & Targets
Consensus is 41% Buy/Strong Buy (20 of 49), 53% Hold (26), and 6% Sell (3). The direction is moderately bullish but heavily weighted toward Hold, reflecting caution. Piper Sandler's Neutral aligns with the median view.
Mean PT is $193.90, median $175, high $400, low $100. Current price $176.40 implies 9.9% upside to mean but only -0.8% to median. Piper Sandler's $190 sits slightly below the mean but above the median, in the middle of the range.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-09-10 | Piper Sandler | initiate | Neutral | $190.00 |
| 2026-09-09 | RBC Capital | maintain | Sector Perform | $180.00 |
| 2026-09-09 | Rosenblatt | maintain | Buy | $235.00 |
| 2026-07-30 | Benchmark | maintain | Buy | — |
| 2026-07-30 | UBS | maintain | Neutral | — |
| 2026-07-30 | Susquehanna | maintain | Neutral | $160.00 |
| 2026-07-30 | RBC Capital | maintain | Sector Perform | $160.00 |
| 2026-07-30 | Citigroup | maintain | Neutral | $175.00 |
| 2026-07-30 | TD Cowen | maintain | Buy | $175.00 |
| 2026-07-30 | Wells Fargo | maintain | Equal-Weight | $170.00 |
30-day analyst activity shows 1 upgrade and 0 downgrades. However, EPS revisions are decisively negative: 27 downward revisions vs 1 upward for the current fiscal year, and 27 vs 3 for next year. Estimates are being revised lower across all periods.
Firm Track Record — Piper Sandler
Piper Sandler accuracy: 54% on 3744 calls | avg return: 3.6%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| HSBC | 100% | 2/2 | -4.6% | top tier |
| WestPark Capital | 100% | 2/2 | 1.1% | top tier |
| Loop Capital | 100% | 2/2 | 6.5% | top tier |
| Keybanc | 67% | 2/3 | -0.3% | top tier |
| Wells Fargo | 60% | 3/5 | -4.5% | above average |
| TD Cowen | 50% | 1/2 | -3.7% | below average |
| Evercore ISI Group | 50% | 2/4 | 3.1% | below average |
| Rosenblatt | 50% | 3/6 | -2.8% | below average |
| Susquehanna | 50% | 3/6 | 4.9% | below average |
| Cantor Fitzgerald | 44% | 4/9 | -0.8% | below average |
Piper Sandler has 54% accuracy on 3,744 total calls with a 3.6% average return. On QCOM specifically, they are 40% (2 of 5) with -4.6% average return — below average. Top firms on QCOM by accuracy: HSBC, WestPark Capital, Loop Capital (all 100% on 2 calls). Worst: Baird and Barclays (33% on 3 calls).
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $2.15 | $2.09 — $2.24 | $10.1B | ↑0 ↓0 |
| +1q | $2.30 | $2.00 — $2.95 | $10.6B | ↑0 ↓0 |
| 0y | $10.52 | $10.44 — $10.61 | $42.9B | ↑0 ↓0 |
| +1y | $10.22 | $8.83 — $12.24 | $44.8B | ↑0 ↓0 |
Cross-Platform Signals
Insider selling is notable: CFO Palkhiwala sold ~$190k and director Grech sold ~$137k in August — all open-market sales, not 10b5-1. This aligns with the bearish revision trend. Congressional activity is mixed: Rep. Ro Khanna sold $15k-$50k in August but bought $1k-$15k in July. Institutional moves are split — Allianz trimmed 52.9% ($312M) while Citadel added 94.5% ($266M) and Amundi added 94.1% ($1.88B). Short interest at 59.7% of float is elevated, indicating bearish positioning.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | ANALYST-UPGRADE | $176.88 $188.71 | ▲ +6.69% | ▲ +7.19% | $182.09 (+2.95%) |
Jun 25, 2026 14w ago | ANALYST-UPGRADE | — | awaiting T+5 | — | — |
May 8, 2026 20w ago | ANALYST-UPGRADE | $237.08 $203.30 | ▼ −14.25% | ▼ −14.16% | $182.09 (−23.19%) |
May 5, 2026 21w ago | Insider Cluster | $186.45 $209.37 | ▲ +12.29% | ▲ +10.31% | $182.09 (−2.34%) |
Apr 30, 2026 22w ago | Insider Cluster | $179.65 $192.57 | ▲ +7.19% | ▲ +5.47% | $182.09 (+1.36%) |
Apr 30, 2026 22w ago | Insider Cluster | $179.65 $192.57 | ▲ +7.19% | ▲ +5.47% | $182.09 (+1.36%) |
Apr 17, 2026 23w ago | ANALYST-DOWNGRADE | $135.98 $148.92 | ▼ −9.52% | ▼ −8.96% | $182.09 (−33.91%) |
Mar 12, 2026 29w ago | Insider Cluster | $131.18 $131.21 | ▲ +0.02% | ▲ +1.00% | $182.09 (+38.81%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access