Zacks: Analysts Anticipate QUALCOMM, Inc. (NASDAQ:QCOM) Will Announce Quarterly Sales of $4.72 Billion

Equities research analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to announce sales of $4.72 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for QUALCOMM’s earnings. The highest sales estimate is $4.74 billion and the lowest is $4.70 billion. QUALCOMM posted sales of $5.80 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 18.6%. The firm is scheduled to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that QUALCOMM will report full year sales of $19.31 billion for the current fiscal year, with estimates ranging from $19.29 billion to $19.33 billion. For the next financial year, analysts forecast that the firm will post sales of $21.69 billion, with estimates ranging from $20.91 billion to $22.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for QUALCOMM.

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

A number of research firms recently commented on QCOM. Morgan Stanley set a $89.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Canaccord Genuity set a $87.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Monday, August 26th. Deutsche Bank decreased their target price on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating on the stock in a research report on Thursday, August 1st. BidaskClub upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Finally, Bank of America decreased their target price on QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $79.68.

In related news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now owns 1,386 shares in the company, valued at $97,518.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin purchased 2,705 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $73.84 per share, with a total value of $199,737.20. Following the acquisition, the director now directly owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The disclosure for this purchase can be found here. Insiders have sold 11,985 shares of company stock worth $892,245 over the last three months. 0.11% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Weaver Consulting Group purchased a new stake in shares of QUALCOMM in the first quarter valued at about $25,000. Meridian Wealth Management LLC bought a new position in shares of QUALCOMM in the 1st quarter worth about $26,000. Ibex Wealth Advisors bought a new position in shares of QUALCOMM in the 2nd quarter worth about $28,000. Krane Funds Advisors LLC bought a new position in shares of QUALCOMM in the 2nd quarter worth about $28,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of QUALCOMM in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 78.45% of the company’s stock.

Shares of NASDAQ:QCOM traded down $0.44 during mid-day trading on Friday, reaching $77.05. The stock had a trading volume of 386,734 shares, compared to its average volume of 6,149,179. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The company has a market cap of $92.06 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $90.34. The business’s 50 day moving average price is $76.47 and its 200 day moving average price is $73.00.

The business 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 3.22%. QUALCOMM’s payout ratio is currently 77.74%.

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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