Qualcomm, Inc. (NASDAQ:QCOM) shares have experienced a downward trend since the start of FY15, especially when its high-end processor Snapdragon 810 was excluded by Samsung Electronics in the making of its flagship product Galaxy S6. Its recent trading price was $19.03.
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Separately, TheStreet Ratings team rates QUALCOMM INC as a Hold with a ratings score of C+. The average number of the range is $67.333 based on the 18 firms offering price targets. The total value of the transaction was worth $150,066. Stifel Nicolaus reiterated a buy rating and set a $70.00 price target (down previously from $78.00) on shares of QUALCOMM in a report on Thursday, July 23rd. The 52-week low of the share price is at $52.17. Analysts at Nomura have downgraded the chipmaker from Buy to Hold along with the downward revision in its price target from $75 to $60, while stating that the aforementioned change should have been implemented a year ago when the issue with China surfaced. The higher and the lower price estimates are $ 80 and $58 respectively. The stock’s 50-day moving average is $56.91 and its 200 day moving average is $62.08. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 12.611. The wireless technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.21 billion.
On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The Securities and Exchange Commission has divulged that Renduchintala Venkata S M, officer (EVP, QTI & Co-President, QCT) of Qualcomm Inc/De, had unloaded 2,700 shares at an average price of $55.58 in a transaction dated on October 5, 2015. During the same quarter in the previous year, the company posted $1.26 earnings per share. QUALCOMM’s revenue was down 18.5% compared to the same quarter past year. On Nov 4, 2014, the shares registered one year high at $77.72 and the one year low was seen on Sep 29, 2015.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Tuesday, December 1st will be issued a $0.48 dividend. It also reduced its holding in Intel Corp Sdcv 3.250% 8/0 (Prn) () by 69,000 shares in the quarter, leaving it with 1,000 shares, and cut its stake in Spdr S&P 500 Etf Tr (). The ex-dividend date is Friday, November 27th.
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QUALCOMM Incorporated (NASDAQ:QCOM) stated loss of 10,093,930 shares or 33.9% in the short interest. The disclosure for this purchase can be found here. The Company operates in three sections, including Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL) and Qualcomm Strategic Initiatives (QSI). AllPlay helps producers 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. Under the terms of the agreement, Qualcomm has granted Huizhou TCL Mobile Communication Co., Ltd. a royalty bearing patent license to manufacture and sell 3G WCDMA and CDMA2000, and 4G LTE (including “3-mode” GSM, TD-SCDMA, and LTE-TDD) subscriber units. Qualcomm Halo technology gets rid of the requirement for plug-in wires for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points, creating networks by plugging in.
