QUALCOMM, Inc. (NASDAQ:QCOM) Expected to Post Quarterly Sales of $4.72 Billion

Wall Street analysts forecast that QUALCOMM, Inc. (NASDAQ:QCOM) will post sales of $4.72 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for QUALCOMM’s earnings. The lowest sales estimate is $4.70 billion and the highest is $4.74 billion. QUALCOMM posted sales of $5.80 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, November 6th.

On average, analysts expect that QUALCOMM will report full-year sales of $19.31 billion for the current financial year, with estimates ranging from $19.29 billion to $19.33 billion. For the next fiscal year, analysts anticipate that the business will report sales of $21.69 billion, with estimates ranging from $20.91 billion to $22.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. QUALCOMM’s revenue was down 12.7% compared to the same quarter last year.

A number of equities research analysts recently issued reports on QCOM shares. Daiwa Capital Markets started coverage on shares of QUALCOMM in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Bank of America lowered their target price on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, August 1st. BidaskClub upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th. Morgan Stanley set a $89.00 target price on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $79.68.

QUALCOMM stock traded up $1.73 during trading on Friday, reaching $76.70. The company had a trading volume of 7,277,470 shares, compared to its average volume of 6,005,600. QUALCOMM has a 12-month low of $49.10 and a 12-month high of $90.34. The stock’s 50 day moving average price is $76.75 and its two-hundred day moving average price is $73.56. The firm has a market capitalization of $88.56 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.73 and a beta of 1.59. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.62 per share. The ex-dividend date was Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.23%. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other news, EVP Michelle M. Sterling sold 10,398 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $779,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,985 shares of company stock valued at $892,245. 0.11% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 2.4% in the second quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after purchasing an additional 2,296,163 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in QUALCOMM by 49.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after acquiring an additional 11,686,131 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in QUALCOMM by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock valued at $1,930,950,000 after acquiring an additional 2,035,743 shares in the last quarter. Primecap Management Co. CA raised its holdings in QUALCOMM by 0.3% in the second quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock valued at $1,880,201,000 after acquiring an additional 83,270 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in QUALCOMM by 1.9% in the second quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after acquiring an additional 301,087 shares in the last quarter. Institutional investors and hedge funds own 78.45% 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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