QUALCOMM Incorporated (NASDAQ:QCOM) Expected to Post Quarterly Sales of $8.88 Billion

Brokerages expect QUALCOMM Incorporated (NASDAQ:QCOM) to post $8.88 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for QUALCOMM’s earnings. The highest sales estimate is $8.93 billion and the lowest is $8.82 billion. QUALCOMM reported sales of $8.35 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The business is expected to report its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that QUALCOMM will report full year sales of $33.03 billion for the current year, with estimates ranging from $32.96 billion to $33.08 billion. For the next financial year, analysts anticipate that the company will post sales of $36.49 billion, with estimates ranging from $34.76 billion to $37.67 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 28th. The wireless technology company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.24. QUALCOMM had a return on equity of 102.31% and a net margin of 28.25%. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.58 billion.

A number of research analysts have recently issued reports on the company. Susquehanna Bancshares reiterated a “hold” rating and set a $157.00 target price on shares of QUALCOMM in a research report on Thursday, July 29th. Canaccord Genuity reiterated a “buy” rating and set a $225.00 target price (up previously from $200.00) on shares of QUALCOMM in a research report on Thursday, August 12th. The Goldman Sachs Group upgraded QUALCOMM from a “sell” rating to a “neutral” rating and increased their target price for the company from $136.00 to $148.00 in a research report on Monday, July 19th. KeyCorp increased their target price on QUALCOMM from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Finally, Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating and set a $150.00 price objective on the stock. in a report on Wednesday, June 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $167.81.

Shares of NASDAQ:QCOM traded up $0.16 during midday trading on Friday, reaching $138.40. 6,653,202 shares of the company’s stock traded hands, compared to its average volume of 8,849,272. QUALCOMM has a 1 year low of $108.30 and a 1 year high of $167.94. The company has a market cap of $156.12 billion, a P/E ratio of 17.30, a PEG ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.45 and a current ratio of 1.72. The company has a fifty day simple moving average of $144.02 and a two-hundred day simple moving average of $137.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Thursday, September 2nd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, September 1st. QUALCOMM’s payout ratio is 81.44%.

Several large investors have recently modified their holdings of QCOM. BlackRock Inc. boosted its holdings in QUALCOMM by 4.5% during the 1st quarter. BlackRock Inc. now owns 83,599,923 shares of the wireless technology company’s stock valued at $11,084,513,000 after acquiring an additional 3,600,480 shares during the period. State Street Corp boosted its holdings in QUALCOMM by 1.0% during the 2nd quarter. State Street Corp now owns 47,506,647 shares of the wireless technology company’s stock valued at $6,790,125,000 after acquiring an additional 490,457 shares during the period. Geode Capital Management LLC boosted its holdings in QUALCOMM by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,017,712 shares of the wireless technology company’s stock valued at $2,567,796,000 after acquiring an additional 251,277 shares during the period. Bank of New York Mellon Corp boosted its holdings in QUALCOMM by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,180,842 shares of the wireless technology company’s stock valued at $2,169,797,000 after acquiring an additional 410,004 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in QUALCOMM by 6.6% during the 1st quarter. Alliancebernstein L.P. now owns 14,154,422 shares of the wireless technology company’s stock valued at $1,876,735,000 after acquiring an additional 876,689 shares during the period. 71.77% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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