QUALCOMM (QCOM) to Release Earnings on Wednesday

QUALCOMM (NASDAQ:QCOM - Get Free Report) is scheduled to announce its earnings results 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.Investors interested in listening to the company's conference call can do so using this link.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.50 billion. On average, analysts expect QUALCOMM to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

QUALCOMM Trading Up 1.4 %

NASDAQ:QCOM traded up $2.28 during trading hours on Wednesday, reaching $163.63. 6,088,578 shares of the stock were exchanged, compared to its average volume of 8,570,011. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $165.43 and a two-hundred day moving average of $143.97. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a market capitalization of $182.61 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.20 and a beta of 1.41.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM's dividend payout ratio is 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Barclays upped their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 16th. Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a research report on Tuesday. They set a "buy" rating and a $200.00 price objective on the stock. Finally, Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.86.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company's stock.

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.