QUALCOMM (QCOM) to Release Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $2.56 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts expect QUALCOMM to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

QUALCOMM Trading Up 2.2 %

Shares of QUALCOMM stock opened at $176.00 on Wednesday. The stock has a market capitalization of $196.06 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM has a 52 week low of $106.18 and a 52 week high of $230.63. The stock has a 50 day moving average price of $169.19 and a two-hundred day moving average price of $182.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 44.04%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. 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 22,245 shares of company stock valued at $3,679,407 in the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Susquehanna dropped their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Finally, Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $207.92.

About QUALCOMM

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.