Qualcomm Inc. (QCOM) Rating Reiterated by Cowen and Company

QUALCOMM Inc
Qualcomm Inc. (QCOM) Rating Reiterated by Cowen and Company
Author

14 October, 2016

After the 1st trading documented at $66.09, the company was seen striking $66.49 as it's a day high price and $65.06 as its low price.

09/30/2016 - QUALCOMM Incorporated had its "overweight" rating reiterated by analysts at JP Morgan.

Price to Sale ratio of 39 stands at 0.73 while Price to Book Ratio stands at 3.52. It is now trading 6.79% above its 20 day moving average and 7.59% above its 50 day moving average.

Meanwhile, stocks closed mostly higher on Wednesday as investors digested the comments from the Federal Reserve's latest policy meeting underlined expectations for a possible rate hike in December. Analysts rating the company a 4 or 5 indicate a Sell recommendation.

The 25 analysts offering 12-month price forecasts for Qualcomm have a median target of 67.00, with a high estimate of 75.00 and a low estimate of 50.00.

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On the daily chart, we see that on September 29 Qualcomm stock had a sharp rally that broke it out of a multi-month sideways consolidation phase. With her almost 30 years at Hewlett-Packard Company (HP), Livermore brings extensive experience in senior leadership positions, and broad knowledge and experience in the areas of technology, business administration, marketing, sales, and research and development. QUALCOMM Incorporated was founded in 1985 and is headquartered in San Diego, California.

QUALCOMM Incorporated (QCOM) had a light trading with around 7.03M shares changing hands compared to its three month average trading volume of 9.31M. The compiled data also includes analyst target price and earnings per share projections. The Return on Assets stands at 10.2%, Return on Equity shows 17% and Return on Investment value is 10.3%. During the same period a year ago, the company posted $0.99 earnings per share.

U.S. based company, QUALCOMM Incorporated's (QCOM)'s latest closing price distance was at 22.98% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 4.88% and 2.27% compared with the 20 Day Moving Average. Over the past 6 months 1 sell-side analysts have lowered their long term earnings per share estimates on the stock. Bank of America Corp. reaffirmed a "buy" rating on shares of Qualcomm in a research report on Monday, July 18th. The stock gained a consensus recommendation of 2.13 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell.

Looking ahead to the next fiscal quarter, Wall Street analysts are expecting earnings per share of 0.98 for the period closing on 2016-09-30. Analysts believe the company can continue to increase in value to reach at $41.17 a share over the next twelve months. Also, the Hold rating count is 16 as of 10/10/16.

During last 5 trades the stock sticks nearly -0.88%. The number of shares now owned by investors are 309.34 mln. Pinkerton Retirement Specialists LLC raised its stake in Qualcomm by 3,479.3% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company's stock valued at $111,000 after buying an additional 791 shares during the period. Now shares have been rated as "Buy" from 2 Analysts. Finally, Kelman Lazarov Inc. raised its position in shares of Qualcomm by 6.1% in the third quarter. The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.


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