QUALCOMM Incorporated (QCOM) Expected to Announce Quarterly Sales of $5.78 Billion
Brokerages forecast that QUALCOMM Incorporated (NASDAQ:QCOM) will post $5.78 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for QUALCOMM’s earnings, with the highest sales estimate coming in at $5.84 billion and the lowest estimate coming in at $5.59 billion. QUALCOMM reported sales of $6.18 billion in the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The company is scheduled to report its next earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that QUALCOMM will report full-year sales of $5.78 billion for the current financial year, with estimates ranging from $22.19 billion to $23.20 billion. For the next fiscal year, analysts forecast that the business will report sales of $22.79 billion per share, with estimates ranging from $21.43 billion to $23.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year.
Several research analysts recently commented on the company. Northland Securities raised QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Friday. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 target price on shares of QUALCOMM in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $63.96.
Shares of QUALCOMM (NASDAQ QCOM) opened at 52.19 on Friday. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $71.62. The company has a market cap of $77.04 billion, a price-to-earnings ratio of 19.99 and a beta of 1.29. The firm’s 50-day moving average is $52.11 and its 200 day moving average is $55.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders have sold a total of 28,995 shares of company stock worth $1,587,390 in the last quarter. 0.17% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $114,000. Krilogy Financial LLC lifted its holdings in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC lifted its holdings in shares of QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after purchasing an additional 250 shares in the last quarter. Finally, Alpha Windward LLC lifted its holdings in shares of QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.
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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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