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 EPS guidance of 2.450-2.650 for the period, compared to the consensus EPS 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 Trading Up 8.4 %

QCOM stock traded up $14.01 during trading on Wednesday, hitting $180.95. 19,041,480 shares of the company traded hands, compared to its average volume of 9,271,079. The firm has a market capitalization of $201.94 billion, a PE ratio of 24.32, a P/E/G ratio of 2.17 and a beta of 1.27. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a 50-day moving average of $202.69 and a 200-day moving average of $178.02. 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 released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Analysts predict that QUALCOMM will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on QCOM shares. TD Cowen upped their price target on QUALCOMM from $200.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, June 4th. Bank of America upped their price target on QUALCOMM from $180.00 to $245.00 and gave the company a buy rating in a research report on Friday, May 31st. Mizuho increased their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a buy rating in a research report on Friday, May 31st. Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an underweight rating in a research report on Thursday, May 2nd. Finally, StockNews.com lowered QUALCOMM from a strong-buy rating to a buy rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $199.63.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock worth $8,552,835. 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.