QUALCOMM (NASDAQ:QCOM) Issues Q4 2024 Earnings Guidance

QUALCOMM (NASDAQ:QCOM) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.450-2.650 for the period, compared to the consensus estimate of 2.450. The company issued revenue guidance of $9.5 billion-$10.3 billion, compared to the consensus revenue estimate of $9.7 billion. QUALCOMM also updated its Q4 guidance to $2.45-2.65 EPS.

QUALCOMM Stock Up 8.4 %

QUALCOMM stock traded up $14.01 during midday trading on Wednesday, reaching $180.95. The stock had a trading volume of 19,041,480 shares, compared to its average volume of 9,271,079. The firm’s fifty day simple moving average is $202.69 and its 200-day simple moving average is $178.02. QUALCOMM has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $201.94 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, analysts expect that QUALCOMM will post 7.84 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.88%. QUALCOMM’s dividend payout ratio is 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. KeyCorp raised their price target on QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. Hsbc Global Res downgraded QUALCOMM from a strong-buy rating to a hold rating in a research note on Wednesday, July 17th. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 target price for the company. Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Finally, Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a buy rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $199.63.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,552,835 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.