QUALCOMM (NASDAQ:QCOM) announced its quarterly earnings results on Wednesday. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15, Briefing.com reports. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a return on equity of 69.92% and a net margin of 16.36%. QUALCOMM’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. QUALCOMM updated its Q4 2020
After-Hours guidance to 1.05-1.25 EPS and its Q4 guidance to $1.05-1.25 EPS.

Shares of QCOM traded up $12.43 during midday trading on Thursday, hitting $105.46. 1,165,439 shares of the company traded hands, compared to its average volume of 6,489,976. The firm has a 50 day moving average of $90.29 and a 200-day moving average of $82.44. QUALCOMM has a 52 week low of $58.00 and a 52 week high of $96.17. The stock has a market cap of $119.30 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.69 and a beta of 1.34. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 2nd. QUALCOMM’s dividend payout ratio (DPR) is presently 91.55%.

In related news, CAO Erin L. Polek sold 1,646 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald J. Rosenberg sold 11,038 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.68, for a total transaction of $967,811.84. Following the completion of the transaction, the executive vice president now directly owns 3,591 shares of the company’s stock, valued at approximately $314,858.88. The disclosure for this sale can be found here. Insiders have sold a total of 231,815 shares of company stock valued at $21,622,429 in the last three months. Insiders own 0.12% of the company’s stock.

Several research firms have weighed in on QCOM. Charter Equity reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, April 30th. Tigress Financial reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Friday, April 17th. Raymond James lifted their price objective on QUALCOMM from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Thursday. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, KeyCorp lifted their price objective on QUALCOMM from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $103.18.

QUALCOMM Company Profile

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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