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Main » CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent

CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent

21 April 2017

Days later, Apple filed its own allegations of unfair dealing around Qualcomm's intellectual property licensing business. Qualcomm's Snapdragon processor is known for its IoT applications.

Management expects that it will be in the capital markets in the fiscal second half of 2017 to fund the remaining portion of its acquisition-related needs. Moreover, the company's foray into areas like automotive, networking and mobile computing auger well. W.G. Shaheen & Associates DBA Whitney & Co now owns 59,427 shares of the wireless technology company's stock worth $4,071,000 after buying an additional 597 shares during the period. Aggressive competition in the mobile phone chipset market and regulatory proceedings might have acted as dampeners for Qualcomm's profits. Sanford C. Bernstein reissued a "market perform" rating and issued a $80.00 price objective on shares of QUALCOMM in a report on Wednesday, January 18th. The company has a consensus rating of "Hold" and a consensus price target of $67.01.

01/26/2017 - QUALCOMM Incorporated had its " rating reiterated by analysts at Brean Capital. The stock's current RSI reading is at 22.57.

Based on the latest notes released to investors, 7 analysts have issued a rating of "buy", 7 analysts "outperform", 15 analysts "hold", 2 analysts "underperform" and 0 analysts "sell".

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Mike Walkley, Canaccord Genuity: Reiterates a Buy rating, and cuts his price target a buck to $75. The average return on assets for companies in the same sector is 2.44. QUALCOMM has a 52 week low of $50.11 and a 52 week high of $71.62. The company's price sits -6.27% below from its 50-day moving average of $56.53 and -13.49% away from the stock's 200-day moving average which is $61.96.

QUALCOMM Incorporated (QCOM) is slated to announce its fiscal Q2 earnings on Wednesday, Apr 19, 2017.

Shares of Qualcomm (QCOM) were down about 1.6% in morning trading on Thursday, as the company's top and bottom line beat for the 2017 second quarter was somewhat overshadowed by confirmation that original design manufacturers associated with Apple (AAPL) are withholding royalty payments to Qualcomm.

During the first quarter of fiscal 2017, the company returned almost $1.2 billion to stockholders, which includes $784 million (53 cents per share) of cash dividends and another $444 million through repurchases of 6.6 million shares of common stock. That division, which licenses patents essential to mobile communications and collects royalties on almost every smartphone sold, typically brings the majority of Qualcomm's pretax net profit.

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During the quarter, Qualcomm achieved Non-GAAP earnings of $1.34 per share, an increase of 29% from $1.04 per share past year.

Despite Qualcomm's strong performance in the last quarter, it was clear from today's earnings call that both Qualcomm and its shareholders continue to be concerned about the company's many legal troubles. At the time of this writing, QUALCOMM Incorporated (NASDAQ:QCOM) has a price to earnings ratio of 16.04. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & global trademark and copyright laws. In short, whatever a given analyst recommendation may say, always consider whether a particular investment is right for you in light of your own financial circumstances.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, March 1st will be issued a $0.53 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.53. The ex-dividend date is Monday, February 27th.

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CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent