Zacks: Analysts Anticipate QUALCOMM, Inc. (QCOM) Will Announce Quarterly Sales of $4.79 Billion

Equities analysts forecast that QUALCOMM, Inc. (NASDAQ:QCOM) will post $4.79 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for QUALCOMM’s earnings, with the highest sales estimate coming in at $4.85 billion and the lowest estimate coming in at $4.74 billion. QUALCOMM reported sales of $5.26 billion during the same quarter last year, which would suggest a negative year over year growth rate of 8.9%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that QUALCOMM will report full year sales of $20.35 billion for the current fiscal year, with estimates ranging from $19.54 billion to $20.79 billion. For the next year, analysts anticipate that the business will report sales of $22.03 billion, with estimates ranging from $20.50 billion to $24.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $0.98 EPS. QUALCOMM’s quarterly revenue was down 21.3% compared to the same quarter last year.

A number of equities analysts recently issued reports on QCOM shares. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a report on Friday, January 18th. Mizuho cut their target price on QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. UBS Group reiterated a “neutral” rating and issued a $55.00 target price (down from $64.00) on shares of QUALCOMM in a report on Thursday, January 31st. Finally, ValuEngine cut QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.95.

In other news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Several large investors have recently bought and sold shares of QCOM. Cardinal Capital Management increased its stake in shares of QUALCOMM by 1.4% during the 1st quarter. Cardinal Capital Management now owns 64,933 shares of the wireless technology company’s stock worth $3,703,000 after purchasing an additional 912 shares in the last quarter. Nachman Norwood & Parrott Inc grew its position in shares of QUALCOMM by 4.8% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 7,727 shares of the wireless technology company’s stock valued at $441,000 after buying an additional 354 shares during the last quarter. Edge Wealth Management LLC grew its position in shares of QUALCOMM by 900.9% during the 1st quarter. Edge Wealth Management LLC now owns 11,110 shares of the wireless technology company’s stock valued at $637,000 after buying an additional 10,000 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of QUALCOMM by 6.9% during the 1st quarter. Capital Investment Advisors LLC now owns 220,121 shares of the wireless technology company’s stock valued at $12,554,000 after buying an additional 14,278 shares during the last quarter. Finally, DNB Asset Management AS grew its position in shares of QUALCOMM by 234.6% during the 1st quarter. DNB Asset Management AS now owns 561,983 shares of the wireless technology company’s stock valued at $32,050,000 after buying an additional 394,042 shares during the last quarter. 83.69% of the stock is owned by institutional investors and hedge funds.

Shares of QCOM traded down $0.43 during trading hours on Thursday, reaching $55.90. The stock had a trading volume of 12,246,406 shares, compared to its average volume of 14,131,796. QUALCOMM has a 12 month low of $48.56 and a 12 month high of $76.50. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. The stock has a market cap of $69.52 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.82 and a beta of 1.22.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Wednesday, March 6th. QUALCOMM’s payout ratio is currently 77.74%.

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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