The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Morgan Stanley raised its stake in shares of QUALCOMM by 38.0% in the fourth quarter. GAAP earnings are forecast at 73 cents a share – on par with previous year. First American Trust raised its position in shares of QUALCOMM by 111.6% in the fourth quarter. Russell Frank Co raised its stake in QUALCOMM by 36.2% in the fourth quarter. Analyst recommendation for this stock stands at 2.30. DNB Asset Management raised its stake in QUALCOMM by 88.2% in the fourth quarter. Earnings, adjusted for stock option expense and non-recurring costs, were $1.04 per share. To take look on ration of tradable shares being shorted in market, float short ration was 1.12%, as compared to sentiment indicator; Short Ratio was 1.43. The 52-week high of the share price is $83.71 and the 52-week low is $37.72. The stock attained the volume of 15,600,400 shares. The stock price exhibited upbeat move from its 50 day moving average with 51.48 and remained above from its 200 Day Moving Average with 51.05.
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The modem chip inside every iPhone that connects it to high-speed cellular data networks is made by Qualcomm, a San Diego-based chip giant. Excluding items, it earned US$1.04 (RM4.03) per share, beating average analyst’ estimate of US$0.96 (RM3.72). (QCOM) on Wednesday reported fiscal second-quarter profit of $1.16 billion.
The analyst expected long-term growth of -16.90% for current quarter and 25.00% for next quarter. The Board proposes that the dividend will be paid on or about July 5, 2016. The ex-dividend date is Friday, May 27th.
However, one argument against a favorable view of Qualcomm is its guidance for the fiscal third quarter.
It seems to have opened the floodgates now though, judging by the recent string of announcements of new deals, and analysts estimate that over 90% of Chinese companies are now in compliance with Qualcomm’s terms – reduced as those may have been by the 2015 settlement.
BMO Capital Markets has a Market Perform rating but raised its target price to $47 from $46.
A number of brokerages have recently issued reports on QCOM.
Goldman Sachs reiterated its Buy rating and raised its price target to $64 from $56.
The news sent Qualcomm shares tumbling overnight. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Until Wednesday the stock had been up 4.2% on the year. The disclosure for this sale can be found here.
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As the world leader in next generation mobile technologies, Qualcomm ideas and inventions are driving wireless growth and helping to connect people to information, entertainment and one another.
