Qualcomm Hikes Its Dividend Again: What You Need to Know

Core Viewpoint - Qualcomm's stock surged over 10% following strong fiscal second-quarter results that exceeded expectations, alongside a dividend increase announcement [1][3]. Financial Performance - For the three months ending March 31, Qualcomm reported a revenue increase of 1.3% year-over-year to $9.4 billion and earnings per share (EPS) rose 13.5% to $2.44 [1]. - Analysts had anticipated revenue of $9.3 billion and EPS of $2.32, indicating Qualcomm's performance significantly outperformed these expectations [3]. Future Outlook - Qualcomm provided a positive outlook for its fiscal third quarter, projecting revenue between $8.8 billion and $9.6 billion and EPS between $2.15 and $2.35, surpassing Wall Street's expectations of $9.1 billion in revenue and $2.17 in EPS [3]. Dividend Increase - The company announced a 6.3% increase in its quarterly dividend to 85 cents per share, resulting in an annualized dividend of $3.40 per share, marking 21 consecutive years of dividend hikes [4][5]. Analyst Sentiment - The consensus target price for Qualcomm stock is $182.62, with a recommendation of "Buy" from analysts [6]. - Susquehanna Financial Group has a more bullish outlook, setting a price target of $205, suggesting an implied upside of approximately 14% from current levels [6].