Zacks: Analysts Anticipate QUALCOMM Incorporated (NASDAQ:QCOM) Will Post Quarterly Sales of $10.58 Billion

Equities research analysts expect QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) to announce $10.58 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for QUALCOMM’s earnings. The highest sales estimate is $10.60 billion and the lowest is $10.52 billion. QUALCOMM reported sales of $7.94 billion in the same quarter last year, which indicates a positive year over year growth rate of 33.2%. The business is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that QUALCOMM will report full-year sales of $42.29 billion for the current financial year, with estimates ranging from $40.87 billion to $43.28 billion. For the next year, analysts anticipate that the company will report sales of $45.82 billion, with estimates ranging from $43.69 billion to $48.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for QUALCOMM.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The wireless technology company reported $2.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.77 by $0.19. QUALCOMM had a net margin of 27.71% and a return on equity of 104.90%. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the prior year, the business posted $1.97 EPS. QUALCOMM’s revenue for the quarter was up 30.0% compared to the same quarter last year.

Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of QUALCOMM from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 3rd. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 3rd. Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, February 3rd. KeyCorp reduced their price objective on shares of QUALCOMM from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, StockNews.com initiated coverage on shares of QUALCOMM in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Buy” and an average target price of $198.62.

In related news, CFO Akash J. Palkhiwala sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $179.83, for a total transaction of $557,473.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. LCM Capital Management Inc boosted its holdings in QUALCOMM by 2.7% during the first quarter. LCM Capital Management Inc now owns 6,341 shares of the wireless technology company’s stock worth $969,000 after buying an additional 164 shares in the last quarter. Centennial Wealth Advisory LLC boosted its holdings in QUALCOMM by 14.1% during the first quarter. Centennial Wealth Advisory LLC now owns 1,817 shares of the wireless technology company’s stock worth $278,000 after buying an additional 225 shares in the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in QUALCOMM by 10.7% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 1,875 shares of the wireless technology company’s stock worth $286,000 after purchasing an additional 181 shares during the period. Consilium Wealth Advisory LLC acquired a new position in QUALCOMM in the 1st quarter worth approximately $213,000. Finally, Hollencrest Capital Management boosted its stake in QUALCOMM by 15.8% in the 1st quarter. Hollencrest Capital Management now owns 12,387 shares of the wireless technology company’s stock worth $1,893,000 after purchasing an additional 1,694 shares during the period. Hedge funds and other institutional investors own 72.78% of the company’s stock.

Shares of NASDAQ QCOM opened at $139.32 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.33 and a current ratio of 1.65. The company has a market capitalization of $156.04 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21. QUALCOMM has a 1 year low of $122.17 and a 1 year high of $193.58. The company’s fifty day moving average price is $155.81 and its 200 day moving average price is $162.51.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.15%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s dividend payout ratio (DPR) is presently 31.16%.

About QUALCOMM (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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