QUALCOMM (QCOM) to Release Quarterly Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 1st. Analysts expect QUALCOMM to post earnings of $2.30 per share for the quarter. QUALCOMM has set its Q2 guidance at $2.20-$2.40 EPS and its Q2 2024 guidance at 2.200-2.400 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts expect QUALCOMM to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $161.35 on Wednesday. The company has a market capitalization of $180.07 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.20 and a beta of 1.41. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $177.59. The business’s 50 day moving average is $165.24 and its two-hundred day moving average is $143.83. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Barclays boosted their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

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.