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Tuesday, November 01, 2022 10:19:58 AM
Earnings Preview: Qualcomm Inc. (NASDAQ: QCOM)
By: 24/7 Wall St. | November 1, 2022
• Here is a preview of four companies set to report quarterly results after U.S. markets close Wednesday.
Qualcomm
Networking chip and equipment maker Qualcomm Inc. (NASDAQ: QCOM) has lost more than 11% from its share price over the past 12 months. For the year to date, the share price is down by nearly 35%.
The company is currently embroiled in a dispute with chip designer Arm, which has threatened to force Qualcomm’s OEM customers into becoming Arm licensees, cutting Qualcomm out of its role as a supplier of licensed Arm designs to its customers. Arm has claimed that Qualcomm’s recent acquisition of Nuvia violates an already-terminated license agreement between Arm and Nuvia.
Of 33 analysts covering the company, 21 have Buy or Strong Buy ratings, and the other 12 rate the stock a Hold. At a share price of around $117.70, the upside potential based on a median price target of $172.50 is 46.6%. At the high target of $250.00, the upside potential is 112.4%.
Fourth-quarter fiscal 2022 revenue is forecast to come in at $11.37 billion, up 4.1% sequentially and by 22.0% year over year. Adjusted EPS are forecast at $3.13, up 5.9% sequentially and by 22.7% year over year. For the full fiscal year, analysts currently expect the company to post EPS of $12.51, up 46.5%, on sales of $44.12 billion, up 31.8%.
Qualcomm stock trades at about 9.4 times expected 2022 EPS, 9.2 times estimated 2023 earnings, 11.6 times estimated 2023 earnings of $12.77 and 8.8 times estimated 2024 earnings of $13.30 per share. The stock’s 52-week range is $104.66 to $193.58. Qualcomm pays an annual dividend of $3.00 (yield of 2.52%). Total shareholder return over the past 12 months was negative 9.9%.
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By: 24/7 Wall St. | November 1, 2022
• Here is a preview of four companies set to report quarterly results after U.S. markets close Wednesday.
Qualcomm
Networking chip and equipment maker Qualcomm Inc. (NASDAQ: QCOM) has lost more than 11% from its share price over the past 12 months. For the year to date, the share price is down by nearly 35%.
The company is currently embroiled in a dispute with chip designer Arm, which has threatened to force Qualcomm’s OEM customers into becoming Arm licensees, cutting Qualcomm out of its role as a supplier of licensed Arm designs to its customers. Arm has claimed that Qualcomm’s recent acquisition of Nuvia violates an already-terminated license agreement between Arm and Nuvia.
Of 33 analysts covering the company, 21 have Buy or Strong Buy ratings, and the other 12 rate the stock a Hold. At a share price of around $117.70, the upside potential based on a median price target of $172.50 is 46.6%. At the high target of $250.00, the upside potential is 112.4%.
Fourth-quarter fiscal 2022 revenue is forecast to come in at $11.37 billion, up 4.1% sequentially and by 22.0% year over year. Adjusted EPS are forecast at $3.13, up 5.9% sequentially and by 22.7% year over year. For the full fiscal year, analysts currently expect the company to post EPS of $12.51, up 46.5%, on sales of $44.12 billion, up 31.8%.
Qualcomm stock trades at about 9.4 times expected 2022 EPS, 9.2 times estimated 2023 earnings, 11.6 times estimated 2023 earnings of $12.77 and 8.8 times estimated 2024 earnings of $13.30 per share. The stock’s 52-week range is $104.66 to $193.58. Qualcomm pays an annual dividend of $3.00 (yield of 2.52%). Total shareholder return over the past 12 months was negative 9.9%.
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