QUALCOMM (QCOM) is Reiterated by Cowen to Outperform, Raises Price Target to $ 74

QUALCOMM (QCOM) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 74 from a previous price target of $62 . Cowen advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on QUALCOMM. Mizuho Upgraded QUALCOMM on Sep 30, 2016 to ” Buy”, Price Target of the shares are set at $75.Company shares were Reiterated by Mizuho on Sep 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 59 from a previous price target of $56 .QUALCOMM was Downgraded by Standpoint Research to ” Hold” on Jul 25, 2016.

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 $62.53 and hit $63.36 on the upside on Tuesday, eventually ending the session at $63.31, with a gain of 1.60% or 1 points. The heightened volatility saw the trading volume jump to 52,28,334 shares. Company has a market cap of $93,297 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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