QUALCOMM, Inc. (NASDAQ:QCOM) Expected to Announce Quarterly Sales of $4.83 Billion

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Brokerages predict that QUALCOMM, Inc. (NASDAQ:QCOM) will report sales of $4.83 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for QUALCOMM’s earnings, with the lowest sales estimate coming in at $4.80 billion and the highest estimate coming in at $4.86 billion. QUALCOMM reported sales of $4.84 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.2%. The business is scheduled to issue its next earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that QUALCOMM will report full year sales of $21.78 billion for the current fiscal year, with estimates ranging from $21.29 billion to $22.38 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $27.16 billion, with estimates ranging from $26.06 billion to $30.04 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. QUALCOMM had a return on equity of 77.78% and a net margin of 18.07%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter last year, the company posted $0.90 earnings per share. QUALCOMM’s quarterly revenue was down 17.2% on a year-over-year basis.

QCOM has been the subject of a number of research analyst reports. Canaccord Genuity lifted their price target on QUALCOMM from $87.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. DZ Bank upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 price objective for the company in a research report on Friday, November 8th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. BidaskClub upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Finally, Cowen restated an “outperform” rating and set a $100.00 price objective (up from $80.00) on shares of QUALCOMM in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.05.

QUALCOMM stock opened at $90.48 on Tuesday. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $94.11. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.72 and a current ratio of 1.88. The stock has a market capitalization of $103.31 billion, a P/E ratio of 31.86, a PEG ratio of 1.86 and a beta of 1.59. The stock has a 50-day simple moving average of $81.57 and a 200 day simple moving average of $76.75.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.62 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.74%. QUALCOMM’s payout ratio is 87.32%.

In other news, EVP Michelle M. Sterling sold 10,398 shares of QUALCOMM stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $779,953.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cristiano R. Amon sold 8,611 shares of QUALCOMM stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.03, for a total transaction of $689,138.33. Following the completion of the sale, the president now owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its position in QUALCOMM by 11.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,249 shares of the wireless technology company’s stock valued at $95,000 after purchasing an additional 129 shares in the last quarter. Farmers Trust Co. raised its position in QUALCOMM by 3.1% during the third quarter. Farmers Trust Co. now owns 4,382 shares of the wireless technology company’s stock valued at $335,000 after purchasing an additional 132 shares in the last quarter. Shulman DeMeo Asset Management LLC raised its position in QUALCOMM by 0.8% during the third quarter. Shulman DeMeo Asset Management LLC now owns 17,153 shares of the wireless technology company’s stock valued at $1,308,000 after purchasing an additional 132 shares in the last quarter. Miracle Mile Advisors LLC raised its position in QUALCOMM by 1.6% during the third quarter. Miracle Mile Advisors LLC now owns 8,845 shares of the wireless technology company’s stock valued at $675,000 after purchasing an additional 137 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in QUALCOMM by 1.6% during the third quarter. Gamco Investors INC. ET AL now owns 8,688 shares of the wireless technology company’s stock valued at $663,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

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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