QUALCOMM (QCOM) Scheduled to Post Quarterly Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $2.30 per share for the quarter. QUALCOMM has set its Q2 guidance at $2.20-$2.40 EPS and its Q2 2024 guidance at 2.200-2.400 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts expect QUALCOMM to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $0.14 during trading hours on Tuesday, reaching $169.06. The stock had a trading volume of 442,847 shares, compared to its average volume of 8,401,444. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business’s fifty day moving average is $166.17 and its two-hundred day moving average is $145.34. The company has a market cap of $188.67 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.27 and a beta of 1.41.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QCOM. Piper Sandler upped their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Mizuho upped their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.