Qualcomm, Inc. (NASDAQ: QCOM)’s Stock Performance and Outlook

In the last trading session, 11.8 million Qualcomm, Inc. (NASDAQ:QCOM) shares changed hands as the company’s beta touched 1.41. With the company’s per share price at $153.10 changed hands at $2.1 or 1.39% during last session, the market valuation stood at $170.86B. QCOM’s last price was a discount, traded about -3.19% off its 52-week high of $157.98. The share price had its 52-week low at $101.47, which suggests the last value was 33.72% up since then. When we look at Qualcomm, Inc.’s average trading volume, we note the 10-day average is 11.95 million shares, with the 3-month average coming to 1.32.

Qualcomm, Inc. (NASDAQ:QCOM) trade information

Instantly QCOM was in green as seen at the end of in last trading. With action 6.30%, the performance over the past five days has been green. The jump to weekly highs of 154.76 added 1.39% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.86%, with the 5-day performance at 6.30% in the green. However, in the 30-day time frame, Qualcomm, Inc. (NASDAQ:QCOM) is 10.12% up. Looking at the short shares, we see there were 14.93 million shares sold at short interest cover period of 1.67 days.

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Qualcomm, Inc. (QCOM) estimates and forecasts

Data shows that the Qualcomm, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 33.58% over the past 6 months, a 13.52% in annual growth rate that is considerably higher than the industry average of 9.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Qualcomm, Inc. will rise 7.40%, while the growth in revenue is estimated to hit 15.00% for the next quarter. Year-over-year growth is forecast to reach 6.30% up from the last financial year.

Consensus estimates given by 22 financial analysts project the company’s revenue in the current quarter to hit an average of $9.3 billion. 22 analysts are of the opinion that Qualcomm, Inc.’s revenue for the quarter ending Jun 2024 will be $9.02 billion.

The 2024 estimates are for Qualcomm, Inc. earnings to increase by 16.07%, but the outlook for the next 5-year period is at 8.36% per year.

QCOM Dividends

Qualcomm, Inc. is expected to release its next quarterly earnings report between May 01 and May 06. The 2.06% annual yield figure for the share gives it an annual dividend of 3.15. It is important to note, however, that the 2.06% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Qualcomm, Inc. (NASDAQ:QCOM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.13% of Qualcomm, Inc. shares while 77.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.95%. There are 77.85% institutions holding the Qualcomm, Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 9.92% of the shares, roughly 110.72 million QCOM shares worth $16.95 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.68% or 85.76 million shares worth $13.13 billion as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 34.75 million shares estimated at $5.32 billion under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.40% of the shares, roughly 26.82 million shares worth around $4.11 billion.

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