QUALCOMM Incorporated (NASDAQ:QCOM):
Qualcomm Announces Agreement with LifeScan Inc., a Johnson & Johnson Diabetes Care Company, to Inform Patient Care with Connected Blood Glucose Meters.
The company is now down from yesterday’s close of $58.12.
The company recently declared a dividend for shareholders to be paid on Wednesday the 21st of June 2017. The dividend payment will be $0.570 per share for the quarter or $2.28 annualized. This dividend amount will represent a yeild of $4.00. The ex-dividend date will be Friday May 26th, 2017.
QUALCOMM Incorporated, launched on August 15, 1991, is involved in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is involved 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. The Business’s segments include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Company 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..
Company chares are trading at $57.05 which is marginally higher than the 50 day moving average which is $55.99 and which is just under the 200 day moving average of $59.00. The 50 day moving average went up by +1.89% and the 200 day average was down $-1.95.
QUALCOMM Incorporated’s P/E ratio is 19.01 and market capitalization is 84.29B. As of the last earnings report the EPS was $3.00 and is projected to be $4.26 for the current year with 1,477,436,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.92 and the next full year EPS is projected to be $4.05.
Traders are feeling more bearish on shares of QUALCOMM Incorporated recently as evidenced by the change in short interest. The firm had a rise in short interest between May 15, 2017 and May 31, 2017 of 15.55%. Short interest increased from 23,357,258 to 26,989,609 over that period. With short interest at 26,989,609 and short average daily volume at 12,842,541, days to cover is 2.1 and the percentage of shorted shares was 0.02% on May 31.
A few investment analysts have issued ratings on the company. On May 22, 2017 the stock rating was rated “Overweight” in a report from JP Morgan which is up from the previous “Neutral” rating. On December 14 the stock rating was downgraded to “Neutral” from “Overweight” with a current price target of $70.00 in a statement from JP Morgan.
JP Morgan downgraded the stock and raised the price target on December 14 changing the price objective from $55.00 to $70.00 and altering the rating from “Overweight” to “Neutral”. On November 10 the stock rating was downgraded from “Overweight” to “Equal-Weight” with a current price target of $65.00 in a report from Morgan Stanley.
On October 31 the company was rated “Buy” in a report from Nomura up from the previous “Outperform” rating. On October 28, 2016 the stock rating was changed to a “Outperform” according to a BMO Capital report a boost from the previous “Underperform” rating.