QUALCOMM (NASDAQ:QCOM) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

QUALCOMM (NASDAQ:QCOM) announced its earnings results on Wednesday. The wireless technology company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07, Briefing.com reports. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.71 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. QUALCOMM updated its Q1 guidance to $0.80-0.90 EPS.

Shares of QCOM traded up $5.35 during midday trading on Thursday, reaching $89.98. The company had a trading volume of 30,244,400 shares, compared to its average volume of 14,152,851. QUALCOMM has a 1-year low of $49.10 and a 1-year high of $92.50. The stock has a market cap of $103.44 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The firm has a 50 day simple moving average of $78.64 and a 200-day simple moving average of $76.41. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $779,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark D. Mclaughlin bought 2,705 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, with a total value of $199,737.20. Following the completion of the purchase, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The disclosure for this purchase can be found here. Insiders sold a total of 19,118 shares of company stock valued at $1,477,392 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Several research analysts recently commented on the company. Morgan Stanley set a $89.00 price objective on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada increased their price objective on QUALCOMM to $88.00 and gave the company a “sector perform” rating in a research note on Thursday. Daiwa Capital Markets assumed coverage on QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Finally, Barclays downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. QUALCOMM presently has an average rating of “Buy” and a consensus target price of $82.43.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Earnings History for QUALCOMM (NASDAQ:QCOM)

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