Brokerages forecast that QUALCOMM, Inc. (NASDAQ:QCOM) will report sales of $5.20 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for QUALCOMM’s earnings, with the highest sales estimate coming in at $5.20 billion and the lowest estimate coming in at $5.18 billion. QUALCOMM reported sales of $5.02 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The company is expected to announce its next earnings results on Wednesday, April 18th.
On average, analysts expect that QUALCOMM will report full year sales of $5.20 billion for the current fiscal year, with estimates ranging from $22.02 billion to $22.72 billion. For the next year, analysts expect that the business will post sales of $23.03 billion per share, with estimates ranging from $21.49 billion to $24.46 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. QUALCOMM’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now owns 43,000 shares of the company’s stock, valued at $2,810,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 919 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the transaction, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The disclosure for this sale can be found here. Insiders sold 95,938 shares of company stock worth $6,137,671 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Truewealth LLC acquired a new position in QUALCOMM during the fourth quarter worth $102,000. Westwood Holdings Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at $114,000. We Are One Seven LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $119,000. Gradient Investments LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $120,000. Finally, Cerebellum GP LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $126,000. 78.11% of the stock is currently owned by institutional investors.
QUALCOMM (QCOM) opened at $59.70 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $88,380.00, a P/E ratio of -24.37, a P/E/G ratio of 1.95 and a beta of 1.35. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -93.06%.
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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