$7.62 Billion in Sales Expected for QUALCOMM Incorporated (NASDAQ:QCOM) This Quarter

Analysts forecast that QUALCOMM Incorporated (NASDAQ:QCOM) will announce $7.62 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for QUALCOMM’s earnings, with the lowest sales estimate coming in at $7.53 billion and the highest estimate coming in at $7.93 billion. QUALCOMM reported sales of $4.89 billion during the same quarter last year, which indicates a positive year over year growth rate of 55.8%. The firm is expected to report its next earnings results on Wednesday, August 4th.

On average, analysts expect that QUALCOMM will report full-year sales of $32.18 billion for the current financial year, with estimates ranging from $31.78 billion to $32.76 billion. For the next financial year, analysts forecast that the business will report sales of $35.26 billion, with estimates ranging from $33.65 billion to $36.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.49. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.62 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year.

A number of analysts recently issued reports on QCOM shares. Morgan Stanley boosted their price objective on QUALCOMM from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. Susquehanna restated a “neutral” rating and issued a $155.00 target price (down from $175.00) on shares of QUALCOMM in a research note on Monday, April 26th. Susquehanna Bancshares lowered QUALCOMM to a “neutral” rating and decreased their target price for the stock from $175.00 to $155.00 in a research note on Monday, April 19th. Piper Sandler upped their target price on QUALCOMM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. Finally, Citigroup decreased their target price on QUALCOMM from $165.00 to $154.00 in a research note on Thursday, April 29th. Twelve analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus price target of $163.65.

In other QUALCOMM news, CAO Erin L. Polek sold 1,835 shares of the stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $132.00, for a total value of $242,220.00. Also, EVP Brian Modoff sold 1,510 shares of the stock in a transaction that occurred on Friday, May 14th. The stock was sold at an average price of $129.32, for a total value of $195,273.20. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthcare Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter worth approximately $26,000. Capital Directions Investment Advisors LLC lifted its holdings in QUALCOMM by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock worth $30,000 after buying an additional 100 shares during the period. RMR Wealth Builders purchased a new stake in QUALCOMM in the 4th quarter worth approximately $30,000. Valley Brook Capital Group bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $30,000. Finally, GeoWealth Management LLC raised its position in shares of QUALCOMM by 308.0% in the 1st quarter. GeoWealth Management LLC now owns 204 shares of the wireless technology company’s stock worth $27,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 72.53% of the company’s stock.

Shares of NASDAQ:QCOM traded up $1.38 during midday trading on Friday, reaching $134.27. 472,121 shares of the company traded hands, compared to its average volume of 10,068,483. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 2.05. QUALCOMM has a 12 month low of $83.10 and a 12 month high of $167.94. The company has a market capitalization of $151.46 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.32. The business’s fifty day moving average price is $134.75.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be issued a dividend of $0.68 per share. The ex-dividend date is Wednesday, June 2nd. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.03%. QUALCOMM’s dividend payout ratio is currently 81.44%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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