QUALCOMM (NASDAQ:QCOM – Get Rating) will be issuing its quarterly earnings data after the market closes on Thursday, February 2nd. Analysts expect the company to announce earnings of $2.02 per share for the quarter. QUALCOMM has set its Q1 2023 guidance at $2.25-$2.45 EPS and its Q1 guidance at $2.25-2.45 EPS.Parties that wish to register for the company’s conference call can do so using this link.
QUALCOMM (NASDAQ:QCOM – Get Rating) last released its earnings results on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.74. The business had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.38 billion. QUALCOMM had a return on equity of 86.71% and a net margin of 29.27%. On average, analysts expect QUALCOMM to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
QUALCOMM Price Performance
NASDAQ:QCOM opened at $131.17 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.75 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average price is $118.60 and its two-hundred day moving average price is $126.04. The firm has a market capitalization of $146.54 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.95 and a beta of 1.23. QUALCOMM has a 12-month low of $101.93 and a 12-month high of $192.10.
QUALCOMM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $3.00 annualized dividend and a yield of 2.29%. QUALCOMM’s dividend payout ratio is 26.36%.
Insider Activity
In other news, CAO Erin L. Polek sold 2,894 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $121.10, for a total value of $350,463.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the completion of the transaction, the insider now directly owns 51,179 shares of the company’s stock, valued at approximately $6,260,727.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $121.10, for a total value of $350,463.40. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Certified Advisory Corp raised its position in QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after purchasing an additional 79 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in QUALCOMM by 5.7% during the 2nd quarter. Sage Mountain Advisors LLC now owns 1,991 shares of the wireless technology company’s stock worth $254,000 after acquiring an additional 108 shares during the period. Interchange Capital Partners LLC grew its holdings in QUALCOMM by 7.4% during the 1st quarter. Interchange Capital Partners LLC now owns 1,860 shares of the wireless technology company’s stock worth $284,000 after acquiring an additional 128 shares during the period. MidWestOne Financial Group Inc. grew its holdings in QUALCOMM by 3.2% during the 1st quarter. MidWestOne Financial Group Inc. now owns 4,179 shares of the wireless technology company’s stock worth $639,000 after acquiring an additional 129 shares during the period. Finally, Plancorp LLC grew its holdings in QUALCOMM by 1.3% during the 1st quarter. Plancorp LLC now owns 11,518 shares of the wireless technology company’s stock worth $1,760,000 after acquiring an additional 148 shares during the period. 70.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
QCOM has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $150.00 in a research note on Thursday, November 3rd. Barclays upgraded QUALCOMM from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $150.00 in a research note on Monday. Morgan Stanley decreased their target price on QUALCOMM from $170.00 to $147.00 and set an “overweight” rating on the stock in a research report on Monday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on QUALCOMM from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, Cowen decreased their target price on QUALCOMM from $185.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $158.46.
About QUALCOMM
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.