It has been about a month since the last earnings report for QUALCOMM IncorporatedQCOM. Analysts anticipate that traders could see stock price minimum in the $31 range (lowest target price). In this case, shares are down -25.02% from $71.62, the 52-week high touched on October 27, 2016, and are keeping their losses at 5.51% for the past 12 months. They set a neutral rating and a $60.00 price target on the stock.
On Wednesday, Apple stock closed in at $140.68 after a fall of $0.52 0r 0.37% while Qualcomm stock closed at $52.61 after a fall $0.06 or 0.11%.Apple Inc (NASDAQ:AAPL) Paid Royalty Fees To Qualcomm Inc. Company's distance from 20 day simple moving average is -6.02% and distance from 50-Day simple moving average is -6.27%. QUALCOMM has a 12 month low of $48.02 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 19th.
Qualcomm Inc. (QCOM - Free Report), the largest manufacturer of wireless chipsets based on baseband technology in the US, reported mixed financial results for the second quarter of fiscal 2017 (ended Mar 31, 2017) wherein the bottom line outshined the Zacks Consensus Estimate but the top line missed the same.
For Q3, Qualcomm forecast revenues of United States dollars 5.3-6.1 billion, which equals a fall of 12 percent to growth of 1 percent year-on-year. Comparatively, the peers have a net margin 3.21%, and the sector's average is 4.65%.
On an adjusted basis, Qualcomm reported revenue of $5.99 billion, beating analysts' average estimate of $5.89 billion.
Oil Prices Turn Lower on EIA Supply Data
Commercial crude oil inventories in the States on the other hand also fell, shrinking by 1.0m barrels to reach 532.3m barrels. Gasoline stocks were up by 1.5 million barrels, compared with expectations in a Reuters poll for a 1.9 million-barrel drop.
The analyst pointed out that the price objective is reduced based on below peers PE of 14.3X his fiscal year ending September 2018 EPS estimate citing legal issues with iPhone maker, as well as, regulators. (NASDAQ:QCOM) because of significant EPS accretion and end-market diversification away from mobile from the pending NXP acquisition, and an attractive dividend yield of 4.3%. The ex-dividend date is Friday, May 26th. QUALCOMM's dividend payout ratio (DPR) is 64.63%. Non-GAAP earnings per share are estimated between 90 cents and $1.15. They now have a Dollars 64 price target on the stock.
The author does not own shares of QCOM.
In other news, EVP Cristiano R. Amon acquired 18,815 shares of the company's stock in a transaction on Friday, February 3rd. The shares were bought at an average price of $53.99 per share, with a total value of $53,990.00. The disclosure for this purchase can be found here. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company's stock valued at $26,214,000 after buying an additional 217,276 shares during the last quarter. Volatility makes major charm for active investors, so firm has 1.50% volatility for month and its performance in stock market been -8.99%. Riggs Asset Managment Co.
Qualcomm has released its quarterly earnings results and acknowledged the ongoing legal dispute with Apple in detail. Ledyard National Bank increased its stake in shares of QUALCOMM by 57.9% in the first quarter.
US based company, Corning Incorporated (GLW)'s latest closing price distance was at 11.54% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -1.08% and -0.44% compared with the 20 Day Moving Average. This is a boost from QUALCOMM's previous quarterly dividend of $0.53. Finally, Northern Trust Corp increased its stake in shares of QUALCOMM by 2.6% in the third quarter. BlackRock Fund Advisors increased its stake in shares of QUALCOMM by 16.5% in the third quarter. Kornitzer Capital Management Inc. The institutional investor owned 183,175 shares of the wireless technology company's stock after selling 5,375 shares during the period. The firm's stock has a market capitalization of $24.93 bln.