Brokers Set Expectations for QUALCOMM Incorporated’s Q3 2024 Earnings (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) – Analysts at Zacks Research increased their Q3 2024 EPS estimates for QUALCOMM in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the wireless technology company will post earnings of $1.72 per share for the quarter, up from their prior forecast of $1.64. The consensus estimate for QUALCOMM’s current full-year earnings is $7.83 per share. Zacks Research also issued estimates for QUALCOMM’s Q4 2024 earnings at $1.91 EPS, FY2024 earnings at $7.81 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $2.03 EPS, Q3 2025 earnings at $2.01 EPS, Q4 2025 earnings at $2.03 EPS, FY2025 earnings at $8.36 EPS, Q1 2026 earnings at $2.45 EPS, Q2 2026 earnings at $2.32 EPS and FY2026 earnings at $9.03 EPS.

Several other equities analysts have also weighed in on QCOM. Canaccord Genuity Group boosted their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Argus upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Barclays upped their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Mizuho upped their price objective on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $210.36 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market capitalization of $234.76 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.49 and a beta of 1.33. The company’s 50-day moving average is $175.50 and its two-hundred day moving average is $155.24. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $211.30.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion.

Institutional Trading of QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter worth $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM in the 1st quarter worth $1,171,516,000. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold 70,074 shares of company stock valued at $12,258,386 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

QUALCOMM Company Profile

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.