QUALCOMM (NASDAQ:QCOM) Announces Earnings Results, Beats Expectations By $0.15 EPS

QUALCOMM (NASDAQ:QCOM) released its earnings results on Wednesday. The wireless technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15, Briefing.com reports. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business earned $0.80 EPS. QUALCOMM’s revenue for the quarter was down .1% on a year-over-year basis. QUALCOMM updated its Q4 2020
After-Hours guidance to 1.05-1.25 EPS and its Q4 guidance to $1.05-1.25 EPS.

Shares of QCOM stock traded down $1.58 on Friday, hitting $105.61. 16,770,274 shares of the stock traded hands, compared to its average volume of 8,403,357. The firm’s 50-day moving average price is $90.67 and its two-hundred day moving average price is $82.54. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market capitalization of $120.94 billion, a PE ratio of 44.56, a PEG ratio of 1.98 and a beta of 1.34. QUALCOMM has a twelve month low of $58.00 and a twelve month high of $107.75.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.60 annualized dividend and a dividend yield of 2.46%. QUALCOMM’s payout ratio is 91.55%.

A number of equities analysts have issued reports on QCOM shares. Canaccord Genuity raised their price target on shares of QUALCOMM from $115.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of QUALCOMM from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Charter Equity reaffirmed a “hold” rating on shares of QUALCOMM in a report on Thursday, April 30th. Cowen lifted their target price on shares of QUALCOMM from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of QUALCOMM from $102.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $106.36.

In other news, CAO Erin L. Polek sold 1,646 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the transaction, the chief financial officer now directly owns 17,790 shares in the company, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,740 shares of company stock worth $22,024,427. Corporate insiders own 0.12% 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.

Featured Story: Gap Up Stocks

Earnings History for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.