Analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to post sales of $5.20 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for QUALCOMM’s earnings, with estimates ranging from $5.18 billion to $5.20 billion. QUALCOMM posted sales of $5.02 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.6%. The firm is expected to announce its next quarterly earnings report on Wednesday, April 18th.
On average, analysts expect that QUALCOMM will report full year sales of $5.20 billion for the current financial year, with estimates ranging from $22.02 billion to $22.72 billion. For the next year, analysts anticipate that the company will post sales of $23.03 billion per share, with estimates ranging from $21.49 billion to $24.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS.
A number of brokerages have issued reports on QCOM. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a research report on Monday, November 13th. Canaccord Genuity boosted their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Citigroup boosted their target price on QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Standpoint Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, UBS Group cut their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $68.25.
Shares of QUALCOMM (QCOM) opened at $63.32 on Friday. The company has a market cap of $93,736.59, a P/E ratio of 17.74, a PEG ratio of 1.97 and a beta of 1.38. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is currently -80.28%.
In other news, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total transaction of $59,110.08. Following the sale, the executive vice president now owns 11,116 shares of the company’s stock, valued at $714,981.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the sale, the executive vice president now directly owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders have sold 45,506 shares of company stock worth $2,977,673 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
Several hedge funds have recently modified their holdings of QCOM. American Asset Management Inc. grew its stake in shares of QUALCOMM by 6.5% during the second quarter. American Asset Management Inc. now owns 6,334 shares of the wireless technology company’s stock worth $350,000 after purchasing an additional 386 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of QUALCOMM by 4.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 206,789 shares of the wireless technology company’s stock worth $11,420,000 after purchasing an additional 7,949 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of QUALCOMM by 16.4% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 346,712 shares of the wireless technology company’s stock worth $19,145,000 after purchasing an additional 48,787 shares in the last quarter. Utah Retirement Systems grew its stake in shares of QUALCOMM by 0.6% during the second quarter. Utah Retirement Systems now owns 270,958 shares of the wireless technology company’s stock worth $14,962,000 after purchasing an additional 1,700 shares in the last quarter. Finally, WP Advisors LLC grew its stake in shares of QUALCOMM by 19.9% during the second quarter. WP Advisors LLC now owns 4,638 shares of the wireless technology company’s stock worth $256,000 after purchasing an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
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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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