QUALCOMM (QCOM) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 70

QUALCOMM (QCOM) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $59 . RBC Capital Mkts advised their investors in a research report released on Oct 3, 2016.

Many Wall Street Analysts have commented on QUALCOMM. Company shares were Reiterated by RBC Capital Mkts on Oct 3, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $59 .Mizuho Upgraded QUALCOMM on Sep 30, 2016 to ” Buy”, Price Target of the shares are set at $75.Company shares were Reiterated by Cowen on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 74 from a previous price target of $62 .

On the company’s financial health, QUALCOMM reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.97. The company had revenue of $6000.00 million for the quarter, compared to analysts expectations of $5578.82 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

QUALCOMM opened for trading at $68.4 and hit $70.4 on the upside on Friday, eventually ending the session at $68.5, with a gain of 1.56% or 1.05 points. The heightened volatility saw the trading volume jump to 3,48,79,502 shares. Company has a market cap of $100,945 M.

In a different news, on Sep 29, 2016, Derek K Aberle (President) sold 15,000 shares at $63.55 per share price. According to the SEC, on Sep 12, 2016, James H Thompson (EVP, Qualcomm Technologies Inc) sold 10,000 shares at $60.94 per share price. On Sep 7, 2016, Matthew S Grob (EVP, Qualcomm Technologies Inc) sold 2,000 shares at $62.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G) fourth-generation (4G) and next-generation wireless technologies. The Company’s products include 2net AllPlay Brew Gobi Halo HealthyCircles Hy-Fi IPQ IZat Pixtronix Powerline QChat QLearn Small Cells Snapdragon Vive RaptorQ Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Company’s Brew platform enables feature phone applications such as gaming messaging Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G 4G and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points creating networks by plugging in.


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