Qualcomm Shares Constructive, Forward of Q2 Earnings Report

Qualcomm Shares Constructive, Forward of Q2 Earnings Report

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Semiconductor, software program and wi-fi expertise multinational QUALCOMM, which has a market cap of $174.563 billion, will report earnings outcomes for the fiscal quarter ending June 2022, following market shut on Wednesday, July 27, 2022. Qualcomm expects to publish earnings of $2.86 per share for the quarter and the corporate has set its Q3 EPS steerage between $2.75-2.95. In addition to Qualcomm, this week Microsoft, Alphabet, Meta Platforms, Apple, Amazon and others will even report their earnings.


Within the earlier quarter’s earnings report, on April 27; Qualcomm’s income was $11.16 billion, representing a +40.7% year-on-year change. EPS was $3.21 for a similar interval in comparison with $1.90 final yr. The corporate’s web margin is 28.42% and the return on fairness is 103.73%. The identical quarter a yr earlier, the enterprise earned $1.59 EPS.

The corporate just lately disclosed its quarterly dividend, which shall be paid out on Thursday, September 22. Traders listed on Thursday, September 1 shall be awarded a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 31. This can be a dividend of $3.00 on an annual foundation and a yield of 2.04%. QUALCOMM’s present dividend payout ratio (DPR) is 30.71%.

Based mostly on the Zacks Consensus Forecast for the June quarter, income is pegged at $10.881 million, representing a 35% progress from final yr’s quarterly reported determine. The consensus estimate for adjusted earnings per share is $2.86, which represents a 48.9% improve. Qualcomm is rated Zacks rank #3 (Maintain).

Qualcomm shares jumped practically 10% on the finish of April, when it reported accelerating income and gross sales progress. General chip gross sales jumped 52% yr over yr, however licensing income fell 2% to $1.58 billion. Qualcomm nonetheless will get most of its income from the handset chip enterprise. The corporate’s RF front-end enterprise, which offers expertise enabling 5G connections, generated $1.16 billion in income, up 28% from final yr’s interval.

Technical Overview

Qualcomm shares have surged from lows together with many different semiconductor shares, serving to the Nasdaq composite raise above its 50-day shifting common. Qualcomm posted its third straight week of positive factors, shifting above its 52-week shifting common, and closed the week at 153.66 after hitting the 50.0% retracement stage of its 193.55 peak and 118.22 low. The optimistic sentiment round chip shares was boosted by the $52 billion chip invoice operating by means of the Senate. This can be a bipartisan invoice that primarily subsidizes home chip manufacturing.


From a each day technical viewpoint, the asset has moved past its 200-day shifting common and the oscillations are nonetheless displaying optimistic momentum. A break of the 146.12 resistance has confirmed a brief time period bottoming at 118.22. An extra transfer to the upside would take a look at the 61.8% retracement stage adjoining to the 167.91 resistance fashioned in January 2021, earlier than shifting increased. Whereas on the unfavourable aspect, the assist at 146.12 ought to maintain the decline, in order that the asset may return to maneuver up. Nevertheless, if this stage is damaged, the value bias will return to the draw back and cancel the rally situation. Subsequent assist is at 136.40 and a low of 118.22.


Various analysis analysts just lately issued reviews on Qualcomm shares. KeyCorp raised their goal value on the inventory from $200.00 to $220.00. Tigress Monetary raised their goal value from $195.00 to $238.00. Morgan Stanley raised its goal value from $167.00 to $170.00. In response to information from MarketBeat, QUALCOMM has a mean ranking of “Medium Buys” and a consensus goal value of $194.69. In the meantime, Tipranks sources, primarily based on 20 Wall Avenue analysts who provided 12-month value targets for Qualcomm within the final 3 months, give a mean value goal at $190.65 with a excessive estimate of $250.00 and a low estimate of $135.00. The typical value goal represents a 24.04% change from the final value of $153.70.

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Ady Phangestu

Market Analyst – HF Academic Workplace – Indonesia

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