$7.63 Billion in Sales Expected for QUALCOMM Incorporated (NASDAQ:QCOM) This Quarter


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Wall Street analysts expect QUALCOMM Incorporated (NASDAQ:QCOM) to announce sales of $7.63 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for QUALCOMM’s earnings. The highest sales estimate is $7.66 billion and the lowest is $7.58 billion. QUALCOMM posted sales of $5.22 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 46.2%. The firm is expected to report its next earnings report after the market closes on Wednesday, April 28th.

On average, analysts expect that QUALCOMM will report full-year sales of $31.09 billion for the current fiscal year, with estimates ranging from $30.52 billion to $32.04 billion. For the next fiscal year, analysts anticipate that the business will post sales of $33.82 billion, with estimates ranging from $32.05 billion to $36.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period last year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 62.2% compared to the same quarter last year.

Several equities analysts recently weighed in on the company. KeyCorp raised their price objective on QUALCOMM from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, January 6th. Canaccord Genuity raised their price objective on QUALCOMM from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. Morgan Stanley dropped their price objective on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, February 4th. Deutsche Bank Aktiengesellschaft raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Finally, Mizuho raised their price target on QUALCOMM from $163.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $164.88.

NASDAQ QCOM traded up $0.37 during mid-day trading on Tuesday, hitting $138.21. The stock had a trading volume of 6,582,492 shares, compared to its average volume of 10,629,733. QUALCOMM has a 52-week low of $71.75 and a 52-week high of $167.94. The company has a market cap of $157.01 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.27 and a beta of 1.34. The company has a 50 day simple moving average of $133.71 and a 200 day simple moving average of $141.33. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, June 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. QUALCOMM’s dividend payout ratio is currently 77.84%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Moser Wealth Advisors LLC increased its stake in shares of QUALCOMM by 223.2% during the 4th quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. Capital Directions Investment Advisors LLC increased its stake in shares of QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. RMR Wealth Builders acquired a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. Valley Brook Capital Group acquired a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. Finally, Addison Advisors LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $32,000. 74.76% of the stock is owned by institutional investors.

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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