QUALCOMM Incorporated (QCOM) Expected to Announce Quarterly Sales of $5.78 Billion
Equities analysts predict that QUALCOMM Incorporated (NASDAQ:QCOM) will post $5.78 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for QUALCOMM’s earnings, with the lowest sales estimate coming in at $5.59 billion and the highest estimate coming in at $5.84 billion. QUALCOMM reported sales of $6.18 billion in the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that QUALCOMM will report full-year sales of $5.78 billion for the current financial year, with estimates ranging from $22.19 billion to $23.20 billion. For the next financial year, analysts forecast that the firm will post sales of $22.81 billion per share, with estimates ranging from $21.43 billion to $23.87 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS.
A number of brokerages recently weighed in on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price objective for the company in a report on Wednesday, June 7th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Deutsche Bank AG began coverage on shares of QUALCOMM in a report on Monday, June 19th. They issued a “hold” rating and a $62.00 price objective for the company. Susquehanna Bancshares Inc restated a “positive” rating and issued a $67.00 price objective (up previously from $61.00) on shares of QUALCOMM in a report on Sunday, June 18th. Finally, BidaskClub upgraded shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.60.
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QUALCOMM (NASDAQ QCOM) traded up 0.50% during midday trading on Thursday, reaching $52.22. 2,587,226 shares of the company’s stock traded hands. The firm’s 50-day moving average is $51.71 and its 200-day moving average is $54.53. The company has a market capitalization of $77.08 billion, a price-to-earnings ratio of 20.00 and a beta of 1.28. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $71.62.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
In other news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,914 shares of company stock worth $1,581,095. Corporate insiders own 0.17% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after acquiring an additional 1,537,645 shares during the last quarter. FMR LLC grew its stake in QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares during the last quarter. Northern Trust Corp grew its stake in QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after acquiring an additional 499,531 shares during the last quarter. Capital International Investors grew its stake in QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after acquiring an additional 5,671,176 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in QUALCOMM by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock valued at $537,426,000 after acquiring an additional 288,413 shares during the last quarter. 76.97% of the stock is currently owned by institutional investors and hedge funds.
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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