QUALCOMM Incorporated Forecasted to Post Q2 2024 Earnings of $1.82 Per Share (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOMFree Report) – Equities researchers at Zacks Research issued their Q2 2024 EPS estimates for shares of QUALCOMM in a report issued on Wednesday, February 21st. Zacks Research analyst R. Department expects that the wireless technology company will earn $1.82 per share for the quarter. The consensus estimate for QUALCOMM’s current full-year earnings is $7.67 per share. Zacks Research also issued estimates for QUALCOMM’s Q3 2024 earnings at $1.65 EPS, Q4 2024 earnings at $1.92 EPS, FY2024 earnings at $7.67 EPS, Q1 2025 earnings at $2.23 EPS, Q2 2025 earnings at $1.98 EPS, Q3 2025 earnings at $1.99 EPS, Q4 2025 earnings at $2.11 EPS, FY2025 earnings at $8.32 EPS, Q1 2026 earnings at $2.42 EPS and FY2026 earnings at $9.51 EPS.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion.

QCOM has been the topic of several other reports. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Barclays increased their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Rosenblatt Securities increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Finally, Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $119.00 to $132.00 in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

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QUALCOMM Trading Up 0.1 %

Shares of QUALCOMM stock opened at $154.91 on Monday. The firm’s 50 day simple moving average is $146.10 and its two-hundred day simple moving average is $127.24. The firm has a market capitalization of $172.88 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.11 and a beta of 1.42. 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 has a 12-month low of $101.47 and a 12-month high of $157.98.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC increased its position in QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its holdings in QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the period. Chilton Capital Management LLC boosted its holdings in QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. Means Investment CO. Inc. boosted its holdings in QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its holdings in QUALCOMM by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 21,728 shares of the wireless technology company’s stock worth $3,142,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 71.10% of the company’s stock.

Insider Activity

In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $402,740.00. Following the sale, the chief accounting officer now owns 247 shares of the company’s stock, valued at $32,110. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the sale, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,569 shares of company stock valued at $1,808,277. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

QUALCOMM Company Profile

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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.

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Earnings History and Estimates for QUALCOMM (NASDAQ:QCOM)

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