QUALCOMM (NASDAQ:QCOM) Releases Earnings Results, Misses Expectations By $0.07 EPS

QUALCOMM (NASDAQ:QCOM) issued its quarterly earnings data on Wednesday. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07), Zacks reports. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $2.85 during mid-day trading on Wednesday, hitting $175.89. 8,074,223 shares of the company’s stock traded hands, compared to its average volume of 7,370,281. The company’s 50-day moving average is $161.31 and its two-hundred day moving average is $165.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $195.41 billion, a P/E ratio of 19.57, a PEG ratio of 2.87 and a beta of 1.25. QUALCOMM has a 1 year low of $142.43 and a 1 year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analysts Set New Price Targets

Several analysts have commented on QCOM shares. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock valued at $4,000,870 in the last ninety days. 0.08% of the stock is owned by company insiders.

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.