QUALCOMM (NASDAQ:QCOM) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

QUALCOMM (NASDAQ:QCOM) posted its earnings results on Wednesday. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25, reports. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. QUALCOMM updated its Q1 guidance to $2.85-3.05 EPS and its Q1 2025 guidance to 2.850-3.050 EPS.

QUALCOMM Trading Down 1.2 %

NASDAQ:QCOM traded down $2.00 on Friday, reaching $170.91. The company’s stock had a trading volume of 10,736,646 shares, compared to its average volume of 9,039,770. QUALCOMM has a 1-year low of $119.85 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $190.39 billion, a PE ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. The business’s 50-day moving average price is $168.53 and its two-hundred day moving average price is $182.15.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter worth approximately $32,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on QCOM shares. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays lifted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday. Robert W. Baird lifted their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.