$5.95 Billion in Sales Expected for QUALCOMM, Inc. (QCOM) This Quarter

Equities research analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to report $5.95 billion in sales for the current 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 would suggest a negative year-over-year growth rate of 0.8%. The firm is expected to issue 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 fiscal year, with estimates ranging from $22.09 billion to $23.90 billion. For the next fiscal year, analysts anticipate that the company 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 research analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the company earned $1.28 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis.

A number of research firms have recently weighed in on QCOM. Canaccord Genuity upped their price objective on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective on the stock in a research report on Monday, November 13th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and upped their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.14.

In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,989 shares of company stock worth $4,678,794. Corporate insiders own 0.24% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Pennsylvania Trust Co boosted its stake in shares of QUALCOMM by 25.9% during the second quarter. Pennsylvania Trust Co now owns 143,926 shares of the wireless technology company’s stock worth $7,953,000 after buying an additional 29,612 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of QUALCOMM by 985.8% during the second quarter. NN Investment Partners Holdings N.V. now owns 971,783 shares of the wireless technology company’s stock worth $53,660,000 after buying an additional 882,287 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of QUALCOMM by 14.3% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 10,564 shares of the wireless technology company’s stock worth $583,000 after buying an additional 1,319 shares during the period. Bank of The West boosted its stake in shares of QUALCOMM by 9.2% during the second quarter. Bank of The West now owns 30,458 shares of the wireless technology company’s stock worth $1,682,000 after buying an additional 2,563 shares during the period. Finally, Arvest Bank Trust Division boosted its stake in shares of QUALCOMM by 1.3% during the second quarter. Arvest Bank Trust Division now owns 230,297 shares of the wireless technology company’s stock worth $12,717,000 after buying an additional 3,059 shares during the period. 76.31% of the stock is currently owned by institutional investors.

QUALCOMM (QCOM) traded up $0.30 during trading on Monday, hitting $68.34. The stock had a trading volume of 778,309 shares, compared to its average volume of 8,004,823. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $69.28. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $100,790.00, a price-to-earnings ratio of 41.42, a P/E/G ratio of 1.93 and a beta of 1.39.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is 138.18%.

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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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