Brokerages expect QUALCOMM, Inc. (NASDAQ:QCOM) to post $5.53 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for QUALCOMM’s earnings. The highest sales estimate is $5.60 billion and the lowest is $5.50 billion. QUALCOMM posted sales of $5.91 billion in the same quarter last year, which suggests a negative year over year growth rate of 6.4%. The firm is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that QUALCOMM will report full year sales of $22.44 billion for the current year, with estimates ranging from $22.40 billion to $22.50 billion. For the next year, analysts anticipate that the business will report sales of $21.39 billion per share, with estimates ranging from $21.07 billion to $21.68 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.30. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. QUALCOMM’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS.
QCOM has been the subject of a number of recent analyst reports. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Nomura lifted their price target on QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity lifted their price target on QUALCOMM from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Macquarie raised QUALCOMM from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $84.00 in a report on Tuesday. Finally, Rosenblatt Securities raised QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $70.00 in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus target price of $69.13.
In related news, EVP Alexander H. Rogers sold 828 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $63.40, for a total value of $52,495.20. Following the transaction, the executive vice president now owns 7,170 shares in the company, valued at approximately $454,578. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 1,306 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $67.37, for a total value of $87,985.22. The disclosure for this sale can be found here. Insiders have sold 2,923 shares of company stock worth $185,098 in the last quarter. Insiders own 0.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of QCOM. Chicago Partners Investment Group LLC increased its position in QUALCOMM by 15.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 30,208 shares of the wireless technology company’s stock worth $1,695,000 after purchasing an additional 4,000 shares during the period. Truvestments Capital LLC acquired a new position in QUALCOMM during the 2nd quarter worth approximately $1,159,000. Advisors Asset Management Inc. increased its position in QUALCOMM by 3.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 339,139 shares of the wireless technology company’s stock worth $19,032,000 after purchasing an additional 10,137 shares during the period. Paragon Capital Management Ltd acquired a new position in QUALCOMM during the 2nd quarter worth approximately $235,000. Finally, Laurel Wealth Advisors Inc. increased its position in QUALCOMM by 532.2% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 285,991 shares of the wireless technology company’s stock worth $6,098,000 after purchasing an additional 240,753 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.
NASDAQ QCOM traded up $0.91 during trading on Friday, reaching $70.89. 15,299,229 shares of the company’s stock were exchanged, compared to its average volume of 11,396,310. The company has a market capitalization of $100.94 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62. QUALCOMM has a 1 year low of $48.56 and a 1 year high of $71.07.
QUALCOMM announced that its board has approved a share buyback program on Wednesday, May 9th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Tuesday, September 4th. QUALCOMM’s dividend payout ratio (DPR) is currently 65.61%.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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