QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) – Analysts at KeyCorp upped their FY2023 earnings estimates for QUALCOMM in a research report issued on Monday, October 2nd. KeyCorp analyst J. Vinh now anticipates that the wireless technology company will post earnings of $6.52 per share for the year, up from their prior estimate of $6.41. KeyCorp currently has a “Overweight” rating and a $145.00 target price on the stock. The consensus estimate for QUALCOMM’s current full-year earnings is $6.41 per share. KeyCorp also issued estimates for QUALCOMM’s Q4 2023 earnings at $1.55 EPS, Q2 2024 earnings at $1.60 EPS, Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $2.08 EPS.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.51 billion.
Read Our Latest Analysis on QCOM
QUALCOMM Trading Down 0.0 %
NASDAQ QCOM opened at $109.80 on Thursday. The company’s fifty day simple moving average is $113.66 and its 200-day simple moving average is $116.04. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $139.94. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $120.78 billion, a P/E ratio of 14.37, a PEG ratio of 0.96 and a beta of 1.23.
Hedge Funds Weigh In On QUALCOMM
Several large investors have recently bought and sold shares of the stock. Lifestyle Asset Management Inc. increased its stake in QUALCOMM by 38.6% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 2,787 shares of the wireless technology company’s stock valued at $310,000 after buying an additional 776 shares during the period. Community Bank of Raymore increased its stake in QUALCOMM by 12.6% during the 3rd quarter. Community Bank of Raymore now owns 18,385 shares of the wireless technology company’s stock valued at $2,042,000 after buying an additional 2,060 shares during the period. Mirador Capital Partners LP increased its stake in QUALCOMM by 5.7% during the 3rd quarter. Mirador Capital Partners LP now owns 7,361 shares of the wireless technology company’s stock valued at $817,000 after buying an additional 394 shares during the period. Butensky & Cohen Financial Security Inc. increased its stake in QUALCOMM by 5.8% during the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 40,106 shares of the wireless technology company’s stock valued at $4,454,000 after buying an additional 2,207 shares during the period. Finally, Salem Investment Counselors Inc. increased its stake in QUALCOMM by 1.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 113,511 shares of the wireless technology company’s stock valued at $12,607,000 after buying an additional 1,159 shares during the period. Institutional investors and hedge funds own 71.10% of the company’s stock.
Insider Buying and Selling
In related news, CTO James H. Thompson sold 27,962 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the sale, the chief technology officer now owns 241,369 shares of the company’s stock, valued at approximately $27,330,211.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 6,001 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.40, for a total transaction of $662,510.40. Following the transaction, the insider now owns 25,229 shares of the company’s stock, valued at approximately $2,785,281.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 27,962 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the transaction, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. Insiders have sold a total of 35,963 shares of company stock valued at $4,054,078 in the last quarter. Company insiders own 0.07% of the company’s stock.
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, application processing, multimedia, and global positioning system products.
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