Zacks: Analysts Anticipate QUALCOMM Incorporated (NASDAQ:QCOM) Will Announce Quarterly Sales of $10.89 Billion

Analysts forecast that QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) will report sales of $10.89 billion for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for QUALCOMM’s earnings. The lowest sales estimate is $10.79 billion and the highest is $11.02 billion. QUALCOMM reported sales of $8.06 billion in the same quarter last year, which indicates a positive year over year growth rate of 35.1%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that QUALCOMM will report full-year sales of $44.75 billion for the current fiscal year, with estimates ranging from $43.99 billion to $45.39 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $48.61 billion, with estimates ranging from $46.95 billion to $50.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for QUALCOMM.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The business had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $1.59 earnings per share.

A number of research firms recently commented on QCOM. 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. Barclays reduced their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 3rd. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, February 3rd. Finally, Wells Fargo & Company reduced their target price on shares of QUALCOMM from $185.00 to $150.00 in a report on Thursday, April 28th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $194.77.

Shares of NASDAQ QCOM traded up $3.16 during mid-day trading on Monday, reaching $134.93. 9,276,558 shares of the company traded hands, compared to its average volume of 10,740,972. QUALCOMM has a fifty-two week low of $122.17 and a fifty-two week high of $193.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27. The firm has a market cap of $151.12 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.20. The stock has a fifty day simple moving average of $144.81 and a 200-day simple moving average of $163.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd will be given a $0.75 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.22%. QUALCOMM’s dividend payout ratio is presently 27.84%.

Institutional investors have recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $28,000. Carroll Investors Inc bought a new position in shares of QUALCOMM during the 4th quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $34,000. Ten Capital Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 263.2% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of QUALCOMM during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 73.61% of the company’s stock.

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.

Featured Articles

Get a free copy of the Zacks research report on QUALCOMM (QCOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.