$5.20 Billion in Sales Expected for QUALCOMM, Inc. (QCOM) This Quarter

Brokerages expect that QUALCOMM, Inc. (NASDAQ:QCOM) will announce sales of $5.20 billion for the current quarter, according to Zacks. Five analysts have made estimates for QUALCOMM’s earnings. QUALCOMM reported sales of $5.37 billion in the same quarter last year, which indicates a negative year over year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, July 25th.

According to Zacks, analysts expect that QUALCOMM will report full-year sales of $22.01 billion for the current financial year, with estimates ranging from $21.73 billion to $22.46 billion. For the next year, analysts forecast that the business will report sales of $22.38 billion per share, with estimates ranging from $21.42 billion to $23.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.10. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same period in the prior year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis.

Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday. Cowen initiated coverage on shares of QUALCOMM in a research note on Thursday, May 17th. They set a “market perform” rating and a $58.00 target price on the stock. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Monday, April 30th. Finally, Canaccord Genuity lowered their price target on shares of QUALCOMM from $79.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.50.

In related news, EVP Alexander H. Rogers sold 1,052 shares of the stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $59.55, for a total value of $62,646.60. Following the sale, the executive vice president now directly owns 8,787 shares of the company’s stock, valued at approximately $523,265.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 662 shares of the stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $50.75, for a total transaction of $33,596.50. Following the completion of the sale, the executive vice president now directly owns 8,132 shares in the company, valued at $412,699. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,255 shares of company stock worth $1,612,477. 0.17% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $1,257,000. Rikoon Group LLC boosted its position in shares of QUALCOMM by 9.0% in the first quarter. Rikoon Group LLC now owns 18,159 shares of the wireless technology company’s stock worth $977,000 after acquiring an additional 1,495 shares during the last quarter. Altium Wealth Management LLC acquired a new stake in shares of QUALCOMM in the first quarter worth approximately $280,000. Suntrust Banks Inc. boosted its position in shares of QUALCOMM by 30.2% in the first quarter. Suntrust Banks Inc. now owns 257,829 shares of the wireless technology company’s stock worth $14,285,000 after acquiring an additional 59,809 shares during the last quarter. Finally, Trilogy Capital Inc. acquired a new stake in shares of QUALCOMM in the first quarter worth approximately $620,000. 76.91% of the stock is currently owned by institutional investors.

QCOM traded up $0.22 during trading hours on Monday, hitting $56.12. 11,273,959 shares of the company’s stock were exchanged, compared to its average volume of 8,840,074. QUALCOMM has a 12-month low of $48.56 and a 12-month high of $69.28. The company has a market cap of $82.89 billion, a P/E ratio of 14.85, a PEG ratio of 1.80 and a beta of 1.50. The company has a quick ratio of 3.46, a current ratio of 3.60 and a debt-to-equity ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Wednesday, May 30th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 29th. QUALCOMM’s dividend payout ratio is presently 65.61%.

QUALCOMM announced that its Board of Directors has approved a share buyback plan on Wednesday, May 9th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

About QUALCOMM

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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