QUALCOMM (QCOM) is Downgraded by Brean Capital to Hold

QUALCOMM (QCOM) was Downgraded by Brean Capital to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Brean Capital advised their investors in a research report released on Jun 9, 2016.

Many Wall Street Analysts have commented on QUALCOMM. Credit Agricole Initiated QUALCOMM on May 17, 2016 to “Outperform”, Price Target of the shares are set at $65.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 .

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 closed down -0.05 points or -0.09% at $54.84 with 54,00,156 shares getting traded on Tuesday. Post opening the session at $54.94, the shares hit an intraday low of $54.665 and an intraday high of $55.18 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 26, 2016, Matthew S Grob (EVP, Qualcomm Technologies Inc) sold 10,000 shares at $55.25 per share price. According to the SEC, on May 11, 2016, Cristiano R Amon (EVP and President, QCT) sold 6,887 shares at $51.51 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.


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