Qualcomm Incorporated (NASDAQ: QCOM) is back in the spotlight on December 15, 2025, as investors weigh a busy mix of deal-related disclosures, a new buyback update, and an increasingly “AI-era” roadmap that stretches beyond phones into PCs, automotive—and now deeper into data center connectivity and CPU architecture.
As of 16:47 UTC on Monday, QCOM traded at $177.68, down 0.34% on the day, after opening at $180.00 and moving between $176.40 and $180.31 intraday.
Below is a detailed, publication-ready breakdown of the latest Qualcomm stock news, today’s key filings, and what analysts are forecasting next—all as the market digests developments dated 15 December 2025.
What’s moving Qualcomm stock on Dec. 15, 2025
Several headlines and filings are converging at once:
- Alphawave acquisition enters a critical week: regulatory conditions are confirmed satisfied (or intended to be waived where applicable), with key election deadlines set for today (Dec. 15) and a court sanction hearing set for Dec. 16, ahead of an expected effective date of Dec. 18. [1]
- New share repurchase disclosure: Qualcomm reported repurchasing 2,363,137 shares during the week of Dec. 8–12, with a disclosed VWAP of $177.82. [2]
- A wave of Takeover Code disclosures: multiple parties filed Form 8.3 / dealing disclosures tied to the Alphawave offer period, including a Dec. 15 disclosure from Sculptor. [3]
- Street forecasts remain constructive: MarketBeat’s roundup (citing Zacks and other firms) points to a “Moderate Buy” consensus and an average price target around $191. [4]
The Alphawave deal: why Dec. 15 is a “calendar” day investors care about
One of the most market-relevant Qualcomm narratives right now isn’t a product launch—it’s a transaction timetable.
The near-term schedule (and why it matters)
A November 27 update connected to the Alphawave process set out the timeline and confirmed key milestones:
- Election Return Time for certain shareholder elections: 1:00 p.m. on 15 December 2025
- Sanction Hearing: 16 December 2025
- Effective Date expected: 18 December 2025
- Issuance/admission steps for new Qualcomm shares tied to the transaction: by 1 January 2026 [5]
For QCOM stock watchers, this matters for two reasons:
- Deal certainty typically rises as legal/regulatory steps complete, which can reduce “event risk” discounts in valuation models.
- Closing mechanics can affect share count, capital deployment, and narrative momentum—particularly when Qualcomm is simultaneously emphasizing buybacks and broader AI/data center ambitions.
Regulatory conditions: “checked the boxes”
The same update also states that all applicable regulatory clearances have been received (or deemed received) or waived (or will be waived), and confirms all Regulatory Conditions have been satisfied (or are intended to be waived where applicable). [6]
The bridge loan detail: a small number with a big signaling effect
In parallel, documents related to the Alphawave acquisition disclosed a $20,000,000 unsecured bridge loan facility, priced at Term SOFR + 2.75%, intended to help Alphawave with covenant compliance and working capital flexibility during the process. [7]
While $20 million is immaterial relative to Qualcomm’s scale, the move is notable because it signals “keep the process smooth” intent during an offer period where timing and conditions matter.
Deal context: price and strategic rationale
Earlier coverage described Qualcomm’s Alphawave transaction as a cash offer of 183 pence per share, valuing Alphawave at roughly $2.4 billion, and framed the strategic logic around high-speed connectivity IP for data centers/AI infrastructure. [8]
With the timetable now pointing to an expected Dec. 18 effective date, investors are no longer debating “if/when” in abstract terms—they’re watching a week-by-week countdown. [9]
Today’s UK Takeover Code filings: what they are (and what they aren’t)
If you’re seeing a cluster of “Form 8.3” headlines and wondering if something dramatic happened to Qualcomm’s fundamentals: these are largely procedural disclosures, but they’re still worth understanding.
On Dec. 15, Sculptor Capital-related entities filed a Form 8.3 disclosure under Rule 8.3 of the Takeover Code, explicitly naming Qualcomm and also indicating it was making disclosures in respect of Alphawave IP Group plc. [10]
Separately, other dealing disclosures tied to the offer period have appeared from institutions acting in concert/connected roles in the process (for example, a Form 8 (DD) announcement tied to Bank of Montreal’s subsidiary). [11]
In plain English: these filings are part of the transparency framework around an offer period. They can signal positioning and hedging activity, but they don’t automatically imply a new change in Qualcomm’s underlying business outlook.
Qualcomm’s buyback: a fresh “Rule 2.9” update puts numbers on the board
A standout stock-specific datapoint published today is Qualcomm’s Rule 2.9 disclosure (connected to the takeover framework), which includes both share count and recent repurchases.
Key figures disclosed:
- Shares in issue (as of close of business Dec. 11, 2025): 1,065,316,212
- Shares repurchased between Dec. 8–12, 2025: 2,363,137
- Highest price paid: $183.28
- Lowest price paid: $172.56
- Volume-weighted average price (VWAP): $177.82 [12]
The disclosure also references Qualcomm’s $15.0 billion repurchase authorization originally announced on Nov. 6, 2024. [13]
Why buybacks matter more when the story is “execution”
When a mega-cap semiconductor company is juggling:
- a major acquisition (Alphawave),
- a strategic talent/IP acquisition (Ventana),
- and a long-running diversification push beyond smartphones,
…buybacks can become a confidence signal—but also a capital allocation test. The market tends to reward buybacks when investors believe management is repurchasing shares at attractive risk-adjusted valuations and can still fund growth priorities.
Dividend catalyst: Qualcomm’s $0.89 payment is days away
Qualcomm has also confirmed a quarterly cash dividend of $0.89 per share, payable December 18, 2025, to shareholders of record as of December 4, 2025. [14]
For income-focused investors, the key point isn’t just yield—it’s that Qualcomm is simultaneously emphasizing dividends + buybacks while expanding its scope into more capital-intensive arenas like AI infrastructure.
Ventana acquisition: Qualcomm’s RISC‑V move and what it signals for the long game
Just days before today’s filings, Qualcomm announced it acquired Ventana Micro Systems, a company focused on high-performance RISC‑V CPU designs aimed at data center and enterprise use cases.
Reporting around the deal emphasizes:
- terms not disclosed
- Qualcomm intends to develop RISC‑V CPU cores in parallel with its custom Arm-based Oryon cores (used in Snapdragon X-series) [15]
- the strategic message: strengthening CPU capabilities for an AI-era roadmap, with Ventana’s expertise complementing ongoing RISC‑V initiatives [16]
The strategic subtext: architecture optionality
Industry coverage notes that Qualcomm has a history with RISC‑V (for microcontrollers), but acquiring Ventana reads like a step toward more serious CPU-class RISC‑V ambitions—and potentially a hedge as Qualcomm’s relationship with Arm has involved legal disputes in recent years. [17]
For QCOM stock, the investor question becomes: does this create a credible path to new CPU-driven revenue streams (PC, edge, servers, AI inference systems), or does it add cost/complexity without near-term monetization?
Earnings backdrop: strong adjusted results, but the GAAP headline was messy
Qualcomm’s most recent quarter delivered a split message:
- A large tax-related charge (reported as $5.7 billion) pushed results into a GAAP net loss, which pressured the stock narrative in the short term. [18]
- On an adjusted basis, Qualcomm reported EPS of $3.00, beating expectations, and revenue of $11.3 billion, also above consensus. [19]
- Qualcomm issued upbeat guidance for Q1 FY2026, forecasting revenue of $11.8–$12.6 billion and EPS of $3.30–$3.50. [20]
The market debate since then has centered on whether Qualcomm’s AI-driven expansion (including references to future AI system products) is enough to offset persistent concerns like customer concentration and modem transitions—a risk explicitly referenced in recent market commentary about potential loss of Apple modem business over time. [21]
Qualcomm stock forecast: what Wall Street expects (and where analysts disagree)
Consensus view: Moderate Buy, ~$191 target
MarketBeat’s Dec. 15 roundup summarizes the Street’s consensus as:
- Consensus rating: “Moderate Buy”
- Average price target: about $191
- Consensus full‑year EPS estimate: about $9.39 [22]
A separate compilation of analyst targets puts the average target price in the high-$180s, underscoring that different aggregators can vary based on coverage universe and update timing. [23]
Target range: roughly mid-$160s to low-$200s
Recent firm-by-firm targets cited in the same MarketBeat report include:
- Bank of America: raised to $215 (Buy)
- JPMorgan: raised to $210 (Overweight)
- TD Cowen: raised to $205 (Buy)
- Mizuho: raised to $200 (Outperform)
- Wells Fargo: raised to $165 (Underweight) [24]
This dispersion matters: it implies the Street agrees Qualcomm is a high-quality franchise, but disagrees on magnitude and timing—especially around how quickly non-handset growth can compound.
Institutional positioning: fresh 13F-driven headlines add color (with a timing caveat)
Another cluster of Dec. 15 headlines involves 13F filings showing increased holdings by various firms—Geneos Wealth Management among them (reported as a significant percentage increase in the second quarter filing). [25]
Two important context notes for readers:
- 13F data is backward-looking (this specific story references second quarter positioning). [26]
- These reports can still influence sentiment because they show whether large investors were accumulating QCOM during prior periods of market uncertainty.
What to watch next: catalysts and risks into year-end and early 2026
Near-term catalysts (days to weeks)
- Alphawave timetable milestones: sanction hearing (Dec. 16) and expected effective date (Dec. 18). [27]
- Dividend payment on Dec. 18 (for eligible holders). [28]
- Buyback pace: the market often watches repurchase consistency when the stock is range-bound. [29]
Medium-term catalysts (quarters)
- Evidence that Qualcomm can turn its AI/edge + PC CPU + connectivity push into durable revenue streams (with Alphawave and Ventana fitting into that “bigger than phones” narrative). [30]
Key risks investors continue to price
- Smartphone cyclicality and competitive dynamics in handset silicon (still a material revenue driver).
- Customer concentration and modem roadmap transitions, especially as the market continues to debate how quickly large customers can shift away from Qualcomm-supplied modems. [31]
- Integration and execution risk: closing Alphawave and integrating Ventana talent/IP while maintaining margins and R&D efficiency.
Bottom line for QCOM stock on Dec. 15, 2025
Qualcomm stock is trading in a zone where capital returns (buybacks + dividends) are tangible and immediate, while the next leg of upside hinges on execution—particularly around data center connectivity (Alphawave) and CPU roadmap optionality (Ventana/RISC‑V).
For investors, Dec. 15 is less about a single headline and more about a convergence of signals:
- the Alphawave deal is approaching a decisive moment on the calendar, [32]
- Qualcomm is still actively shrinking share count at prices near today’s trading range, [33]
- and the Street broadly sees upside from here, with consensus targets clustered around the low $190s—though not without meaningful disagreement on risk/reward. [34]
References
1. s204.q4cdn.com, 2. www.research-tree.com, 3. www.globenewswire.com, 4. www.marketbeat.com, 5. s204.q4cdn.com, 6. s204.q4cdn.com, 7. s204.q4cdn.com, 8. www.reuters.com, 9. s204.q4cdn.com, 10. www.globenewswire.com, 11. www.investegate.co.uk, 12. www.research-tree.com, 13. www.research-tree.com, 14. investor.qualcomm.com, 15. www.theregister.com, 16. www.datacenterdynamics.com, 17. www.theregister.com, 18. www.marketwatch.com, 19. www.marketwatch.com, 20. www.marketwatch.com, 21. www.marketwatch.com, 22. www.marketbeat.com, 23. stockanalysis.com, 24. www.marketbeat.com, 25. www.marketbeat.com, 26. www.marketbeat.com, 27. s204.q4cdn.com, 28. investor.qualcomm.com, 29. www.research-tree.com, 30. www.theregister.com, 31. www.marketwatch.com, 32. s204.q4cdn.com, 33. www.research-tree.com, 34. www.marketbeat.com
