QUALCOMM (NASDAQ:QCOM) issued its quarterly earnings data on Wednesday. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15, Briefing.com reports. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. QUALCOMM’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. 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 NASDAQ QCOM traded up $11.60 during mid-day trading on Thursday, hitting $104.63. 1,072,153 shares of the stock were exchanged, compared to its average volume of 6,489,976. The company has a market cap of $117.70 billion, a P/E ratio of 30.96, a PEG ratio of 1.69 and a beta of 1.34. The stock’s fifty day simple moving average is $90.29 and its two-hundred day simple moving average is $82.44. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57. QUALCOMM has a twelve month low of $58.00 and a twelve month high of $96.17.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders 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 2.48%. The ex-dividend date is Wednesday, September 2nd. QUALCOMM’s payout ratio is 91.55%.

A number of equities research analysts recently issued reports on the stock. Raymond James upped their price objective on shares of QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Thursday. Mizuho restated a “buy” rating and set a $105.00 price target (up from $91.00) on shares of QUALCOMM in a report on Wednesday. Goldman Sachs Group cut shares of QUALCOMM from a “neutral” rating to a “sell” rating and decreased their price target for the company from $77.00 to $61.00 in a report on Friday, April 17th. KeyCorp upped their price target on shares of QUALCOMM from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Cowen upped their price target on shares of QUALCOMM from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $103.18.

In other news, CEO Steven M. Mollenkopf sold 219,131 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total transaction of $130,807.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 231,815 shares of company stock valued at $21,622,429. Company insiders own 0.12% of the company’s stock.

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.

Featured Article: What Every Investor Needs to Understand About Secondary Public Offerings

Earnings History for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.