Analysts Expect QUALCOMM Incorporated (QCOM) Will Announce Quarterly Sales of $5.78 Billion
Equities research analysts predict that QUALCOMM Incorporated (NASDAQ:QCOM) will announce $5.78 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for QUALCOMM’s earnings, with estimates ranging from $5.59 billion to $5.84 billion. QUALCOMM posted sales of $6.18 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The company is scheduled to announce its next earnings report 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 fiscal year, with estimates ranging from $22.19 billion to $23.20 billion. For the next fiscal year, analysts forecast that the business will report sales of $22.98 billion per share, with estimates ranging from $21.81 billion to $23.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow QUALCOMM.
Several equities research analysts have weighed in on QCOM shares. Stifel Nicolaus reissued a “buy” rating and set a $65.00 price target on shares of QUALCOMM in a research report on Thursday, July 13th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 price target for the company. in a research report on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of QUALCOMM in a research report on Wednesday, June 28th. Mizuho reissued a “buy” rating and set a $65.00 price target on shares of QUALCOMM in a research report on Friday, July 21st. Finally, Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.80.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 5,810 shares of company stock worth $301,596 in the last three months. Insiders own 0.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Donald L. Hagan LLC bought a new stake in QUALCOMM in the third quarter worth $1,165,000. First Trust Advisors LP increased its position in QUALCOMM by 5.0% during the third quarter. First Trust Advisors LP now owns 3,387,233 shares of the wireless technology company’s stock valued at $175,594,000 after acquiring an additional 160,949 shares during the last quarter. Raymond James Trust N.A. increased its position in QUALCOMM by 1.4% during the third quarter. Raymond James Trust N.A. now owns 143,070 shares of the wireless technology company’s stock valued at $7,417,000 after acquiring an additional 1,926 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in QUALCOMM by 28.4% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 29,666 shares of the wireless technology company’s stock valued at $1,538,000 after acquiring an additional 6,556 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. increased its position in QUALCOMM by 5.6% during the third quarter. Stock Yards Bank & Trust Co. now owns 40,994 shares of the wireless technology company’s stock valued at $2,125,000 after acquiring an additional 2,163 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.
QUALCOMM (NASDAQ QCOM) traded up 1.714% during trading on Tuesday, reaching $54.305. 8,488,850 shares of the company traded hands. The firm has a market capitalization of $80.16 billion, a price-to-earnings ratio of 20.799 and a beta of 1.28. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $71.62. The firm’s 50 day moving average price is $51.92 and its 200 day moving average price is $54.12.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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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