In the final weeks of last quarter, Qualcomm’s MACD indicator recorded a bearish crossover just before year-end, signaling a potential reversal in the uptrend that had prevailed over the prior three months. This technical sell signal has persisted into early January, with trading volumes on down days outpacing those on up days by roughly 15%, suggesting mounting negative sentiment among momentum traders. Historically, Qualcomm shares declined by 10% over the subsequent two weeks when a similar MACD crossover occurred in mid-2019, underscoring the importance of this warning for investors evaluating near-term positioning.

In its latest 13F filing, Croban Asset Management disclosed a 77.4% reduction in its Qualcomm stake during Q3, selling 5,333 shares and retaining 1,560 shares valued at approximately $260,000. Meanwhile, Kingstone Capital Partners Texas increased its position by a staggering 656,661%, now holding nearly 58.8 million shares following the acquisition of 58.76 million additional shares, representing an investment of over $9.3 billion. Norges Bank initiated a new position worth approximately $2.7 billion, Amundi added 3.19 million shares (up 38.2%), Viking Global more than doubled its exposure with an extra 1.72 million shares, and Rafferty Asset Management boosted its stake by 59.1%, adding 1.64 million shares. Collectively, institutional ownership stands at 74.35%, indicating broad engagement from large-scale investors despite some profit-taking.

Qualcomm reported Q3 revenue of $11.27 billion, a 10.0% year-over-year increase that surpassed consensus by $530 million, and delivered EPS of $3.00, beating estimates by $0.13. The company’s net margin reached 12.5%, and return on equity stood at 43.2%. Management set Q1 guidance at $3.30–$3.50 EPS, above Street forecasts, reflecting confidence in robust chipset demand and licensing revenues. On the capital return front, Qualcomm paid a quarterly dividend of $0.89 per share, corresponding to an annualized yield of 2.1% and a payout ratio of 72.8%, underscoring its commitment to returning cash to shareholders while funding ongoing R&D investments.