Qualcomm, Inc. (NASDAQ:QCOM) shares, rose in value, with the stock price up by 1.04% to the previous day’s close as strong demand from buyers drove the stock to $171.53.
Actively observing the price movement in the last trading, the stock closed the session at $169.76. The value of beta (5-year monthly) was 1.34 whereas the PE ratio was 24.86 over 12-month period. Referring to stock’s 52-week performance, its high was $177.59, and the low was $101.47. On the whole, QCOM has fluctuated by 2.17% over the past month.
With the market capitalization of Qualcomm, Inc. currently standing at about $191.43 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024. The company’s Forward Dividend Ratio is 3.20, with its dividend yield at 1.87%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.31, which is expected to increase to $2.43 for fiscal year $9.75 and then to about $10.75 by fiscal year 2025. Data indicates that the EPS growth is expected to be 15.70% in 2025, while the next year’s EPS growth is forecast to be 10.30%.
Analysts have estimated the company’s revenue for the quarter at $9.31 billion, with a low estimate of $9.2 billion and a high estimate of $9.4 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $38.13 billion, representing an increase of 6.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that QCOM’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.98, with the price of QCOM currently trading nearly 1.06% and 7.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.05, while the 7-day volatility ratio is showing 2.41% which for the 30-day chart, stands at 2.17%. Furthermore, Qualcomm, Inc. (QCOM)’s beta value is 1.33, and its average true range (ATR) is 3.88.
A comparison of Qualcomm, Inc. (QCOM) with its peers suggests the former has fared considerably weaker in the market. QCOM showed an intraday change of 1.04% in last session, and over the past year, it grew by 40.25%%.
Data on historical trading for Qualcomm, Inc. (NASDAQ:QCOM) indicates that the trading volumes over the past 10 days have averaged 6.68 million and over the past 3 months, they’ve averaged 8.97 million. According to company’s latest data on outstanding shares, there are 1.11 billion shares outstanding.
Nearly 0.21% of Qualcomm, Inc.’s shares belong to company insiders and institutional investors own 76.34% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.22 million shares as on Mar 15, 2024, resulting in a short ratio of 2.15. According to the data, the short interest in Qualcomm, Inc. (QCOM) stood at 1.81% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 18.67 million. The stock has risen by 18.60% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the QCOM stock heading into the next quarter.
