Wall Street analysts predict that QUALCOMM Incorporated (NASDAQ:QCOM) will report sales of $8.28 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for QUALCOMM’s earnings, with the lowest sales estimate coming in at $8.20 billion and the highest estimate coming in at $8.56 billion. QUALCOMM posted sales of $5.08 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 63%. The business is expected to announce its next quarterly earnings report on Wednesday, February 3rd.
On average, analysts expect that QUALCOMM will report full year sales of $30.62 billion for the current fiscal year, with estimates ranging from $29.17 billion to $32.04 billion. For the next fiscal year, analysts anticipate that the company will post sales of $33.23 billion, with estimates ranging from $30.08 billion to $37.21 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.28. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $5.94 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS.
QCOM has been the subject of several research reports. Mizuho raised their price objective on shares of QUALCOMM from $154.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, December 28th. Barclays raised their price objective on shares of QUALCOMM from $120.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 5th. UBS Group raised their price objective on shares of QUALCOMM from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Bank of America lifted their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, BNP Paribas upgraded shares of QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Friday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $146.85.
In other QUALCOMM news, President Cristiano R. Amon sold 73,220 shares of the company’s stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the sale, the president now directly owns 50,753 shares of the company’s stock, valued at $7,547,986.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 3,455 shares of the company’s stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $142.48, for a total transaction of $492,268.40. Following the sale, the chief accounting officer now directly owns 2,738 shares in the company, valued at $390,110.24. The disclosure for this sale can be found here. In the last three months, insiders sold 157,439 shares of company stock worth $23,183,493. 0.12% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. raised its position in QUALCOMM by 6.5% during the third quarter. Fairfield Bush & CO. now owns 26,257 shares of the wireless technology company’s stock worth $3,090,000 after acquiring an additional 1,608 shares in the last quarter. MML Investors Services LLC raised its position in QUALCOMM by 1.8% during the third quarter. MML Investors Services LLC now owns 109,374 shares of the wireless technology company’s stock worth $12,871,000 after acquiring an additional 1,981 shares in the last quarter. KCM Investment Advisors LLC raised its position in QUALCOMM by 85.8% during the third quarter. KCM Investment Advisors LLC now owns 33,801 shares of the wireless technology company’s stock worth $3,978,000 after acquiring an additional 15,606 shares in the last quarter. Glassman Wealth Services increased its holdings in shares of QUALCOMM by 8.3% in the third quarter. Glassman Wealth Services now owns 1,877 shares of the wireless technology company’s stock valued at $221,000 after purchasing an additional 144 shares during the last quarter. Finally, CX Institutional increased its holdings in shares of QUALCOMM by 70.7% in the third quarter. CX Institutional now owns 1,374 shares of the wireless technology company’s stock valued at $162,000 after purchasing an additional 569 shares during the last quarter. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
QCOM traded up $0.94 during midday trading on Tuesday, hitting $156.64. The company had a trading volume of 6,252,391 shares, compared to its average volume of 8,047,485. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. The company has a market capitalization of $177.16 billion, a PE ratio of 66.09, a P/E/G ratio of 0.89 and a beta of 1.34. QUALCOMM has a twelve month low of $58.00 and a twelve month high of $161.07. The firm’s 50-day simple moving average is $149.20 and its 200-day simple moving average is $122.04.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, December 2nd. QUALCOMM’s dividend payout ratio is presently 91.55%.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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