$5.11 Billion in Sales Expected for QUALCOMM, Inc. (NASDAQ:QCOM) This Quarter

Brokerages predict that QUALCOMM, Inc. (NASDAQ:QCOM) will post sales of $5.11 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for QUALCOMM’s earnings. The highest sales estimate is $5.14 billion and the lowest is $5.10 billion. QUALCOMM reported sales of $5.60 billion in the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that QUALCOMM will report full year sales of $20.43 billion for the current year, with estimates ranging from $20.02 billion to $21.02 billion. For the next fiscal year, analysts anticipate that the business will report sales of $23.77 billion, with estimates ranging from $23.56 billion to $23.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis.

QCOM has been the topic of a number of recent analyst reports. Morgan Stanley set a $40.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, April 23rd. Argus increased their price target on shares of QUALCOMM to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Edward Jones cut shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price target on the stock. in a report on Thursday, May 23rd. DZ Bank reiterated a “buy” rating on shares of Siemens in a report on Thursday, May 23rd. Finally, Bank of America set a $30.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $79.79.

Shares of NASDAQ:QCOM traded up $1.19 during trading on Friday, reaching $74.90. 7,075,060 shares of the stock traded hands, compared to its average volume of 17,588,307. The firm’s 50-day moving average price is $71.41. QUALCOMM has a 52-week low of $49.10 and a 52-week high of $90.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. The company has a market capitalization of $90.40 billion, a PE ratio of 23.48, a P/E/G ratio of 1.78 and a beta of 1.63.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 6th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, June 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the transaction, the president now directly owns 37,614 shares in the company, valued at $2,256,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the transaction, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The disclosure for this sale can be found here. Insiders sold 949,832 shares of company stock worth $37,443,538 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Weaver Consulting Group bought a new stake in shares of QUALCOMM during the 1st quarter valued at $25,000. Farmers National Bank bought a new stake in shares of QUALCOMM during the 1st quarter valued at $26,000. Meridian Wealth Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at $29,000. Finally, Field & Main Bank bought a new stake in shares of QUALCOMM during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 76.27% of the company’s stock.

About QUALCOMM

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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