QUALCOMM (QCOM) Scheduled to Post Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM) is set to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce 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 that are interested in registering for the company’s earnings conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. 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 NASDAQ:QCOM traded down $0.14 during midday trading on Tuesday, hitting $169.06. The stock had a trading volume of 442,847 shares, compared to its average volume of 8,401,444. The company has a market capitalization of $188.67 billion, a PE ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.41. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $177.59. The stock has a 50 day moving average price of $166.17 and a two-hundred day moving average price of $145.34. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Benchmark assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 in the last 90 days. 0.08% of the stock is owned by company 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.