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4-Traders Homepage  >  Equities  >  Nasdaq  >  QUALCOMM, Inc.    QCOM

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QUALCOMM, Inc. : Qualcomm raises dividend, increases share repurchase

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03/05/2013 | 03:23pm CET

Qualcomm Inc, the world's leading supplier of chips for cellphones, said it was raising its quarterly cash dividend by 40 percent and introduced a new $5 billion stock repurchase program, sending its shares higher in premarket trading.

The quarterly dividend will increase to 35 cents per share from 25 cents.

The $5 billion stock repurchase program, which has no expiration date, replaces a $4 billion buyback program. About $2.5 billion of "repurchase authority" had been remaining on the previous buyback program.

Shares rose $1.62 or 2.4 percent on the news to $68.25 per share in premarket trading.

The news comes as San Diego-based Qualcomm is benefiting from strong demand for smartphones and a move by network operators around the world to a high-speed wireless technology known as long term evolution (LTE), where Qualcomm is ahead of rivals.

On January 30, Qualcomm raised its financial targets for this year and also announced the retirement of its chief financial officer.

(Reporting By Liana B. Baker; Editing by Gerald E. McCormick)

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Financials ($)
Sales 2017 23 837 M
EBIT 2017 8 130 M
Net income 2017 4 624 M
Finance 2017 4 843 M
Yield 2017 3,75%
P/E ratio 2017 18,55
P/E ratio 2018 14,95
EV / Sales 2017 3,31x
EV / Sales 2018 2,89x
Capitalization 83 793 M
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 64,9 $
Spread / Average Target 14%
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Managers
NameTitle
Steven M. Mollenkopf Chief Executive Officer & Director
Derek K. Aberle President
Paul E. Jacobs Executive Chairman
George S. Davis Chief Financial Officer & Executive Vice President
Matthew S. Grob Chief Technology Officer
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