Analysts expect QUALCOMM Incorporated (NASDAQ:QCOM) to report sales of $5.78 billion for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for QUALCOMM’s earnings. The highest sales estimate is $5.84 billion and the lowest is $5.59 billion. QUALCOMM reported sales of $6.18 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that QUALCOMM will report full year sales of $5.78 billion for the current year, with estimates ranging from $22.19 billion to $23.20 billion. For the next fiscal year, analysts expect that the company will report sales of $22.81 billion per share, with estimates ranging from $21.43 billion to $23.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share.
A number of research analysts have recently weighed in on the company. Vetr downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target on the stock. in a research note on Monday, May 22nd. Stifel Nicolaus increased their price target on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. J P Morgan Chase & Co raised QUALCOMM from a “neutral” rating to an “overweight” rating and increased their price target for the company from $50.00 to $68.00 in a research note on Monday, May 22nd. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) traded up 0.10% during midday trading on Friday, hitting $52.30. The stock had a trading volume of 5,825,213 shares. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $71.62. The stock has a market capitalization of $77.20 billion, a price-to-earnings ratio of 20.03 and a beta of 1.29. The stock has a 50 day moving average price of $52.06 and a 200-day moving average price of $54.99.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.
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In other news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 28,995 shares of company stock valued at $1,587,390 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM during the second quarter worth approximately $114,000. Krilogy Financial LLC boosted its holdings in shares of QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM during the second quarter worth approximately $141,000. Jacobi Capital Management LLC boosted its holdings in shares of QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares during the period. Finally, Alpha Windward LLC boosted its holdings in shares of QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares during the period. Institutional investors own 76.96% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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