Wall Street analysts forecast that QUALCOMM, Inc. (NASDAQ:QCOM) will report earnings of $0.82 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for QUALCOMM’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.78. QUALCOMM posted earnings per share of $0.92 during the same quarter last year, which indicates a negative year over year growth rate of 10.9%. The business is expected to issue its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that QUALCOMM will report full year earnings of $3.61 per share for the current year, with EPS estimates ranging from $3.57 to $3.66. For the next financial year, analysts anticipate that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.33 to $3.78. Zacks’ earnings per share averages are an average based on a survey of research firms that follow QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.

A number of equities research analysts recently issued reports on QCOM shares. BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Deutsche Bank upped their price objective on shares of QUALCOMM to $60.00 and gave the company a “hold” rating in a report on Monday, July 23rd. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Cowen upped their price objective on shares of QUALCOMM from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus upped their price objective on shares of QUALCOMM from $54.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $71.02.

Shares of QCOM traded down $0.12 during mid-day trading on Monday, reaching $73.58. The stock had a trading volume of 15,448,900 shares, compared to its average volume of 11,666,336. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67. QUALCOMM has a 52-week low of $48.56 and a 52-week high of $76.50. The firm has a market capitalization of $108.27 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.18 and a beta of 1.66.

QUALCOMM declared that its board has approved a share buyback plan on Thursday, July 26th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to reacquire up to 34.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be given a $0.62 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a yield of 3.37%. QUALCOMM’s payout ratio is currently 65.61%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 1,306 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $67.37, for a total value of $87,985.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 828 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the transaction, the executive vice president now directly owns 7,170 shares in the company, valued at approximately $454,578. The disclosure for this sale can be found here. Insiders sold 2,923 shares of company stock worth $185,098 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of QCOM. Bank of New York Mellon Corp lifted its position in shares of QUALCOMM by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock worth $1,170,308,000 after purchasing an additional 2,463,511 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of QUALCOMM by 0.4% during the first quarter. Loomis Sayles & Co. L P now owns 17,783,314 shares of the wireless technology company’s stock worth $985,374,000 after purchasing an additional 77,817 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of QUALCOMM by 22.4% during the first quarter. Artisan Partners Limited Partnership now owns 11,014,540 shares of the wireless technology company’s stock worth $610,316,000 after purchasing an additional 2,018,241 shares in the last quarter. Parnassus Investments CA lifted its position in shares of QUALCOMM by 3.6% during the second quarter. Parnassus Investments CA now owns 10,150,000 shares of the wireless technology company’s stock worth $569,618,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of QUALCOMM by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,687,604 shares of the wireless technology company’s stock worth $543,669,000 after purchasing an additional 323,005 shares in the last quarter. 77.35% of the stock is currently owned by institutional investors.

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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