13 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds

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7. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 79

Forward P/E Ratio as of March 12: 13.89

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes essential wireless technologies globally. The company operates through three segments – Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). On March 10, Qualcomm announced an agreement to acquire EdgeImpulse Inc to strengthen its AI capabilities for IoT. This move enhances developer tools and supports over 170,000 developers in creating AI-powered applications for edge devices.

In Q1 of fiscal year 2025, QUALCOMM Incorporated (NASDAQ:QCOM) reported record revenue of $11.7 billion, with non-GAAP earnings per share of $3.41. QTL generated $1.5 billion in revenue with a 75% EBT margin, meeting analyst estimates. QCT also set a record with $10.1 billion in revenue. Handset revenue reached $7.6 billion, reflecting 13% year-over-year growth, driven by strong demand for premium Android smartphones and the success of the Snapdragon 8 Elite platform. QCT IoT revenue grew 36% year-over-year to $1.5 billion, fueled by product launches featuring advanced processors and on-device AI across consumer, networking, and industrial applications. QCOM is ranked 7th among the most undervalued stocks to buy.

As per Insider Monkey’s Q4 database, 79 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM), an increase from 74 funds in the preceding quarter. John Overdeck and David Siegel’s Two Sigma Advisors was among the largest shareholders of the firm, with 2.6 million shares valued at $402.6 million.

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