QUALCOMM, Inc. (QCOM) Expected to Post Quarterly Sales of $5.53 Billion

Analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to report $5.53 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for QUALCOMM’s earnings, with estimates ranging from $5.50 billion to $5.60 billion. QUALCOMM posted sales of $5.91 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that QUALCOMM will report full year sales of $22.44 billion for the current year, with estimates ranging from $22.40 billion to $22.50 billion. For the next year, analysts anticipate that the company will post sales of $21.49 billion, with estimates ranging from $21.07 billion to $21.80 billion. Zacks’ sales averages are an average based on a survey of analysts that follow QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $0.83 earnings per share. QUALCOMM’s revenue for the quarter was up 5.7% compared to the same quarter last year.

Several equities analysts have commented on QCOM shares. Barclays started coverage on shares of QUALCOMM in a report on Thursday, September 13th. They issued an “overweight” rating and a $95.00 target price on the stock. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Royal Bank of Canada raised their target price on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Nomura raised their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 4th. Finally, Deutsche Bank raised their target price on shares of QUALCOMM to $70.00 and gave the company a “hold” rating in a report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and an average target price of $71.12.

NASDAQ:QCOM traded down $0.04 during mid-day trading on Friday, reaching $70.89. 235,692 shares of the company’s stock were exchanged, compared to its average volume of 11,747,353. QUALCOMM has a one year low of $48.56 and a one year high of $76.50. The firm has a market cap of $105.82 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73.

QUALCOMM announced that its board has authorized a share repurchase plan on Thursday, July 26th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th were paid a $0.62 dividend. The ex-dividend date was Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.50%. QUALCOMM’s payout ratio is currently 65.61%.

In related news, EVP Alexander H. Rogers sold 854 shares of QUALCOMM stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total transaction of $61,641.72. Following the sale, the executive vice president now directly owns 5,197 shares in the company, valued at approximately $375,119.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 1,306 shares of QUALCOMM stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $67.37, for a total transaction of $87,985.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,988 shares of company stock worth $202,122. 0.24% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Stephens Inc. AR boosted its position in QUALCOMM by 13.3% during the 2nd quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock worth $5,741,000 after buying an additional 11,974 shares during the period. Asset Dedication LLC lifted its position in shares of QUALCOMM by 11.3% in the 2nd quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock worth $493,000 after purchasing an additional 894 shares during the period. Pzena Investment Management LLC lifted its position in shares of QUALCOMM by 1.5% in the 2nd quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock worth $39,943,000 after purchasing an additional 10,759 shares during the period. OppenheimerFunds Inc. lifted its position in shares of QUALCOMM by 44.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,235,734 shares of the wireless technology company’s stock worth $69,349,000 after purchasing an additional 378,811 shares during the period. Finally, Argent Trust Co lifted its position in shares of QUALCOMM by 264.6% in the 2nd quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after purchasing an additional 34,036 shares during the period. Institutional investors and hedge funds own 77.39% 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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