QUALCOMM (QCOM) was Initiated by Credit Agricole to “Outperform” and the brokerage firm has set the Price Target at $65. Credit Agricole advised their investors in a research report released on May 17, 2016.
Many Wall Street Analysts have commented on QUALCOMM. Rosenblatt Downgraded QUALCOMM on Apr 21, 2016 to ” Neutral”, Price Target of the shares are set at $57.Company shares were Reiterated by Mizuho on Apr 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Shares were Downgraded by Barclays on Mar 28, 2016 to ” Equal Weight” and Lowered the Price Target to $ 50 from a previous price target of $55 .
On the company’s financial health, QUALCOMM reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.96. The company had revenue of $5551.00 million for the quarter, compared to analysts expectations of $5334.52 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.40 EPS.
QUALCOMM opened for trading at $51.32 and hit $52.17 on the upside on Monday, eventually ending the session at $51.91, with a gain of 1.15% or 0.59 points. The heightened volatility saw the trading volume jump to 68,23,591 shares. Company has a market cap of $76,251 M.
Investors should note that on Apr 8, 2016, QUALCOMM announced a cash dividend of $0.5300. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 22, 2016.
In a different news, on May 11, 2016, Cristiano R Amon (EVP and President, QCT) sold 6,887 shares at $51.51 per share price. According to the SEC, on Apr 14, 2016, Matthew S Grob (EVP, Qualcomm Technologies Inc) sold 32,700 shares at $51.59 per share price. On Apr 14, 2016, James H Thompson (EVP, Qualcomm Technologies Inc) sold 35,000 shares at $51.58 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.