Analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to post earnings per share of $0.72 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for QUALCOMM’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.69. QUALCOMM reported earnings of $0.83 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.3%. The firm is scheduled to issue its next earnings report on Wednesday, July 18th.
According to Zacks, analysts expect that QUALCOMM will report full year earnings of $3.34 per share for the current year, with EPS estimates ranging from $3.13 to $3.57. For the next year, analysts anticipate that the company will post earnings of $3.69 per share, with EPS estimates ranging from $3.20 to $4.34. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.10. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.34 EPS.
A number of equities analysts have issued reports on QCOM shares. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. KeyCorp boosted their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Northland Securities restated a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a research report on Thursday, February 1st. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective on the stock. in a research report on Thursday, February 1st. Finally, Mizuho restated a “buy” rating and issued a $64.00 price objective (down previously from $75.00) on shares of QUALCOMM in a research report on Wednesday, April 18th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.88.
QUALCOMM opened at $57.71 on Friday, Marketbeat.com reports. QUALCOMM has a 12-month low of $48.56 and a 12-month high of $69.28. The stock has a market capitalization of $85.27 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.46 and a current ratio of 3.60.
QUALCOMM declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 9th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, May 30th will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 29th. This represents a $2.48 annualized dividend and a dividend yield of 4.30%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. QUALCOMM’s payout ratio is currently 60.32%.
In related news, EVP Alexander H. Rogers sold 663 shares of the business’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total transaction of $37,519.17. Following the sale, the executive vice president now owns 8,794 shares of the company’s stock, valued at $497,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $66.94, for a total transaction of $78,989.20. The disclosure for this sale can be found here. Insiders have sold 80,383 shares of company stock worth $4,762,616 in the last quarter. 0.24% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in shares of QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after buying an additional 6,322,645 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of QUALCOMM by 7,466.2% in the third quarter. Stifel Financial Corp now owns 2,872,490 shares of the wireless technology company’s stock worth $148,873,000 after buying an additional 2,834,525 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of QUALCOMM by 22.4% in the first quarter. Artisan Partners Limited Partnership now owns 11,014,540 shares of the wireless technology company’s stock worth $610,316,000 after buying an additional 2,018,241 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of QUALCOMM by 21.2% in the third quarter. Dimensional Fund Advisors LP now owns 11,218,088 shares of the wireless technology company’s stock worth $581,538,000 after buying an additional 1,964,525 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of QUALCOMM by 20.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,089,700 shares of the wireless technology company’s stock worth $577,309,000 after buying an additional 1,869,100 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.
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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