FY2024 EPS Estimates for QUALCOMM Incorporated Lifted by Cantor Fitzgerald (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) – Research analysts at Cantor Fitzgerald upped their FY2024 EPS estimates for shares of QUALCOMM in a report issued on Thursday, August 1st. Cantor Fitzgerald analyst C. Muse now forecasts that the wireless technology company will post earnings of $8.01 per share for the year, up from their previous estimate of $7.90. Cantor Fitzgerald has a “Neutral” rating and a $215.00 price target on the stock. The consensus estimate for QUALCOMM’s current full-year earnings is $7.84 per share.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.32% and a return on equity of 38.80%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion.

QCOM has been the subject of several other research reports. Tigress Financial increased their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group upped their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.71.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $164.00 on Friday. QUALCOMM has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $201.93 and its 200-day simple moving average is $177.92. The company has a market cap of $183.02 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold a total of 35,129 shares of company stock worth $6,730,436 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth $2,507,978,000. Matrix Capital Management Company LP purchased a new position in QUALCOMM in the first quarter valued at about $1,171,516,000. International Assets Investment Management LLC lifted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after acquiring an additional 2,983,206 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.