QUALCOMM (QCOM) to Release Quarterly Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM) will be issuing its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $2.25 per share for the quarter. QUALCOMM has set its Q3 guidance at $2.15-$2.35 EPS and its Q3 2024 guidance at 2.150-2.350 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, analysts expect QUALCOMM to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

QUALCOMM Stock Down 0.8 %

QCOM opened at $178.64 on Tuesday. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day moving average price is $203.81 and its two-hundred day moving average price is $177.81. The stock has a market cap of $199.36 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.19 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.90%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Argus upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler boosted their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $199.63.

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.