Trinity Street Asset Management 13F: New $20M Stake in QCOM

Trinity Street Asset Management has opened a new position in QUALCOMM Incorporated (QCOM) by acquiring 109,666 shares valued at about $20.2 million in a filing on October 16, 2026.

What Changed in Trinity Street Asset Management's QUALCOMM Position

The fund has taken a new stake in QUALCOMM, reporting no prior holdings. The 109,666 shares represent a new buy for the firm.

Other Institutional Activity in QUALCOMM

Notable activity from other funds includes Blackrock Inc., which trimmed its position by 10.2%, ending with 95,151,875 shares worth around $16.4 billion. Vanguard Capital Management LLC reduced its stake by 0.7%, resulting in 68,837,417 shares valued at approximately $11.8 billion. State Street Corporation increased its holdings by 1.3%, holding 52,763,263 shares worth about $9.1 billion. Invesco Ltd. also saw a slight increase of 2.4% in its position, now owning 36,101,702 shares valued at roughly $6.2 billion. Vanguard Portfolio Management LLC cut its stake by 1.0%, ending with 33,847,770 shares worth around $5.8 billion.

QUALCOMM Incorporated Stock Up 0.8%

Recently traded around $173.96, QUALCOMM's stock is below its 50-day moving average of $174.77 and is significantly below its 52-week high of $259.92. However, it remains about 42.6% above its 52-week low of $121.99, showing resilience despite recent volatility.

Recent Earnings

QUALCOMM reported trailing twelve-month revenue of approximately $44.1 billion. The company currently has a net margin of 21.0% and a return on equity (ROE) of 33.8%. The next earnings report is scheduled for November 4, 2026, providing an opportunity to assess its financial performance moving forward.

Analysts Set New Price Targets

Analysts have maintained varied ratings for QUALCOMM. On July 30, 2026, Benchmark maintained a Buy rating but reduced its price target to $270. UBS also kept a Neutral rating with a target of $170, while RBC Capital maintained a Sector Perform rating with a target of $180. Piper Sandler initiated a Neutral rating with a target of $190 on September 10, 2026. The current consensus recommends a Hold with a mean price target of $194.13.

About QUALCOMM

QUALCOMM Incorporated is a leading company in the technology sector, focusing on the development and commercialization of technologies for the wireless industry. It operates through various segments, including Qualcomm CDMA Technologies and Qualcomm Technology Licensing, and is based in San Diego, California. This new stake by Trinity Street Asset Management may indicate confidence in the company’s long-term growth potential as it navigates a competitive landscape.

Bottom Line

As Trinity Street Asset Management begins its journey with QUALCOMM, investors should keep an eye on upcoming earnings on November 4, 2026, and monitor further institutional movements and analyst updates. The filing reflects positions as of the reporting period and may not represent current holdings.