QUALCOMM Incorporated (QCOM) Announces Earnings Results
QUALCOMM Incorporated (NASDAQ:QCOM) released its quarterly earnings results on Wednesday. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22, Bloomberg Earnings reports. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s revenue was down 3.5% on a year-over-year basis. QUALCOMM updated its Q1 guidance to $0.85-0.95 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.47%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is 87.36%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 5,837 shares of company stock worth $303,249. Insiders own 0.17% of the company’s stock.
A number of research firms have weighed in on QCOM. BMO Capital Markets reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of QUALCOMM in a research report on Wednesday, July 5th. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.80.
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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