November 24, 2016 - By Dolores Ford · 0 Comments
Qualcomm Inc (NASDAQ:QCOM) institutional sentiment increased to 1.08 in Q2 2016. Its up 0.12, from 0.96 in 2016Q1. The ratio is more positive, as 565 institutional investors increased or opened new positions, while 589 reduced and sold holdings in Qualcomm Inc. The institutional investors in our partner’s database now have: 1.10 billion shares, down from 1.11 billion shares in 2016Q1. Also, the number of institutional investors holding Qualcomm Inc in their top 10 positions increased from 44 to 53 for an increase of 9. Sold All: 70 Reduced: 519 Increased: 461 New Position: 104.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access . The company has a market cap of $102.43 billion. The Firm 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) standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. It has a 17.89 P/E ratio. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives).
The stock decreased 0.26% or $0.18 on November 23, hitting $68.13. About 4.82M shares traded hands. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 29.43% since April 22, 2016 and is uptrending. It has outperformed by 24.02% the S&P500.
Analysts await QUALCOMM, Inc. (NASDAQ:QCOM) to report earnings on January, 25 after the close. They expect $1.04 earnings per share, up 22.35% or $0.19 from last year’s $0.85 per share. QCOM’s profit will be $1.56B for 16.38 P/E if the $1.04 EPS becomes a reality. After $1.17 actual earnings per share reported by QUALCOMM, Inc. for the previous quarter, Wall Street now forecasts -11.11% negative EPS growth.
According to Zacks Investment Research, “QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. The company’s business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. (Company Press Release)”
Edinburgh Partners Ltd holds 10.48% of its portfolio in QUALCOMM, Inc. for 1.29 million shares. Orbis Investment Management (U.S.) Llc owns 232,703 shares or 10.47% of their US portfolio. Moreover, Penn Davis Mcfarland Inc has 8.11% invested in the company for 569,235 shares. The California-based Private Asset Management Inc has invested 6.99% in the stock. Spo Advisory Corp, a California-based fund reported 6.41 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 17 selling transactions for $18.33 million net activity.
Ratings analysis reveals 59% of Qualcomm Inc.’s analysts are positive. Out of 27 Wall Street analysts rating Qualcomm Inc., 16 give it “Buy”, 1 “Sell” rating, while 10 recommend “Hold”. The lowest target is $47 while the high is $75. The stock’s average target of $65.40 is -4.01% below today’s ($68.13) share price. QCOM was included in 63 notes of analysts from July 23, 2015. Canaccord Genuity maintained QUALCOMM, Inc. (NASDAQ:QCOM) rating on Wednesday, October 12. Canaccord Genuity has “Buy” rating and $75 price target. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) has “Neutral” rating given on Tuesday, September 6 by Mizuho. As per Monday, August 24, the company rating was upgraded by Standpoint Research. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, July 21. The firm has “Buy” rating by Canaccord Genuity given on Thursday, July 21. Argus Research maintained QUALCOMM, Inc. (NASDAQ:QCOM) on Thursday, January 14 with “Buy” rating. On Monday, October 31 the stock rating was upgraded by Nomura to “Buy”. Mizuho upgraded it to “Buy” rating and $75 target price in Friday, September 30 report. The rating was maintained by Cowen & Co with “Outperform” on Friday, February 12. CLSA initiated the stock with “Outperform” rating in Tuesday, May 17 report.
QUALCOMM Incorporated, incorporated on August 15, 1991, is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Firm 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) standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Firm also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand, such as certain audio and video codecs, the wireless local area networks (WLAN) 802.11 functionality and volatile and non-volatile memory controllers. Other technologies used by wireless devices that it has developed include operating systems, user interfaces, graphics and camera processing functionality, integrated circuit packaging techniques, sensors and sensor fusion algorithms and application processor architectures.
More notable recent QUALCOMM, Inc. (NASDAQ:QCOM) news were published by: Profitconfidential.com which released: “QCOM Stock: Why Qualcomm Inc. Is Poised for Immense Growth” on November 24, 2016, also Fool.com with their article: “1 Way Qualcomm Inc. Is Leaving Intel Corporation in the Dust” published on November 23, 2016, Fool.com published: “Better Buy: Qualcomm Inc vs. Broadcom Ltd.” on November 09, 2016. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Fool.com and their article: “Qualcomm, Inc. Is Buying NXP Semiconductors, NV: What You Need to Know” published on October 27, 2016 as well as Seekingalpha.com‘s news article titled: “Big Things To Come For Qualcomm” with publication date: November 21, 2016.
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By Dolores Ford