Brokerages expect QUALCOMM, Inc. (NASDAQ:QCOM) to announce $5.95 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for QUALCOMM’s earnings. The lowest sales estimate is $5.80 billion and the highest is $6.11 billion. QUALCOMM reported sales of $6.00 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, January 31st.
According to Zacks, analysts expect that QUALCOMM will report full-year sales of $5.95 billion for the current financial year, with estimates ranging from $22.09 billion to $23.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $23.72 billion per share, with estimates ranging from $22.55 billion to $25.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share.
Several analysts have issued reports on the company. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, November 27th. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank of Canada boosted their price objective on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $66.06.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,989 shares of company stock valued at $1,868,744. 0.17% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hayek Kallen Investment Management boosted its position in shares of QUALCOMM by 2.0% during the first quarter. Hayek Kallen Investment Management now owns 46,200 shares of the wireless technology company’s stock valued at $2,649,000 after buying an additional 913 shares during the last quarter. Cadence Capital Management LLC boosted its position in shares of QUALCOMM by 23.2% during the first quarter. Cadence Capital Management LLC now owns 231,258 shares of the wireless technology company’s stock valued at $13,260,000 after buying an additional 43,519 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of QUALCOMM by 15.9% during the first quarter. WINTON GROUP Ltd now owns 229,826 shares of the wireless technology company’s stock valued at $15,743,000 after buying an additional 31,552 shares during the last quarter. Good Life Advisors LLC purchased a new stake in shares of QUALCOMM during the first quarter valued at $225,000. Finally, Stockman Wealth Management Inc. boosted its position in shares of QUALCOMM by 13.4% during the first quarter. Stockman Wealth Management Inc. now owns 31,590 shares of the wireless technology company’s stock valued at $1,811,000 after buying an additional 3,726 shares during the last quarter. Institutional investors and hedge funds own 76.53% of the company’s stock.
Shares of QUALCOMM (NASDAQ:QCOM) traded up $0.09 on Friday, reaching $66.03. The company’s stock had a trading volume of 5,060,100 shares, compared to its average volume of 6,077,933. The stock has a market capitalization of $96,720.00, a price-to-earnings ratio of 40.02, a P/E/G ratio of 1.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $69.28.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.45%. QUALCOMM’s dividend payout ratio is presently 138.18%.
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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