Wall Street brokerages expect QUALCOMM, Inc. (NASDAQ:QCOM) to post earnings of $1.06 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for QUALCOMM’s earnings, with the highest EPS estimate coming in at $1.16 and the lowest estimate coming in at $0.90. QUALCOMM posted earnings per share of $0.98 in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.2%. The company is expected to report its next earnings results on Wednesday, January 30th.
On average, analysts expect that QUALCOMM will report full-year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $4.68. For the next year, analysts forecast that the business will post earnings of $4.76 per share, with EPS estimates ranging from $4.27 to $5.40. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.20. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The firm had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis.
QCOM has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of QUALCOMM in a research report on Thursday, September 13th. They set an “overweight” rating and a $95.00 price objective on the stock. Deutsche Bank lowered their price objective on shares of QUALCOMM to $65.00 and set a “hold” rating on the stock in a research report on Thursday, November 8th. Royal Bank of Canada increased their price objective on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. Nomura increased their price objective on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, Bank of America lowered their price objective on shares of QUALCOMM from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has an average rating of “Buy” and an average target price of $70.44.
Shares of NASDAQ:QCOM traded down $1.12 during trading on Friday, reaching $55.99. 17,050,288 shares of the stock traded hands, compared to its average volume of 17,492,570. The stock has a market cap of $69.23 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.41 and a beta of 1.66. QUALCOMM has a 52-week low of $48.56 and a 52-week high of $76.50. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 annualized dividend and a yield of 4.43%. QUALCOMM’s payout ratio is presently 77.74%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total value of $61,641.72. Following the transaction, the executive vice president now directly owns 5,197 shares in the company, valued at $375,119.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cristiano R. Amon sold 18,323 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $60.23, for a total transaction of $1,103,594.29. The disclosure for this sale can be found here. Insiders sold 114,952 shares of company stock worth $7,665,408 over the last quarter. Insiders own 0.17% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Ascension Asset Management LLC grew its stake in QUALCOMM by 3.2% during the second quarter. Ascension Asset Management LLC now owns 25,542 shares of the wireless technology company’s stock valued at $1,433,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. grew its stake in QUALCOMM by 1.3% during the third quarter. Accurate Investment Solutions Inc. now owns 62,870 shares of the wireless technology company’s stock valued at $4,529,000 after acquiring an additional 804 shares in the last quarter. KCM Investment Advisors LLC grew its stake in QUALCOMM by 7.8% during the second quarter. KCM Investment Advisors LLC now owns 11,113 shares of the wireless technology company’s stock valued at $624,000 after acquiring an additional 808 shares in the last quarter. Securian Asset Management Inc grew its stake in QUALCOMM by 0.6% during the second quarter. Securian Asset Management Inc now owns 150,716 shares of the wireless technology company’s stock valued at $8,458,000 after acquiring an additional 832 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC grew its stake in QUALCOMM by 25.9% during the third quarter. Massey Quick Simon & CO. LLC now owns 4,046 shares of the wireless technology company’s stock valued at $291,000 after acquiring an additional 832 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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