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Qualcomm's earnings beat helps soothe concerns over its patent-licensing business

21 April 2017, 02:31 | Melvin Schneider

Qualcomm's earnings beat helps soothe concerns over its patent-licensing business

Steve Mollenkopf CEO of Qualcomm at the Mobile World Congress in Barcelona on Feb. 23 2016

Legal battles aside, Qualcomm CEO Steve Mollenkopf said the the company continues to see momentum in the areas of IoT, security, networking and automotive, the latter of which Qualcomm hopes to bolster with its agreement to acquire NXP Semiconductors. This is an interesting aspect to watch out for in Qualcomm's Q2 earnings call. The Company's products principally consist of integrated circuits (chips or chipsets) and system software used in mobile devices and in wireless networks. However, over the past three months, the stock declined 16.3%, while the Zacks categorized Wireless Equipment industry contracted 4.2%.

Several other brokerages also recently commented on QCOM. Looking at this figure it suggests that the shares of QUALCOMM Incorporated (QCOM) may be overvalued, however, this can also depend upon the situation of the market; if the market is strong then it could suggest that QUALCOMM Incorporated (QCOM) is a good investment, however if the market is weaker then it could suggest that the shares are undervalued.

JPMorgan Chase & Co. reissued their neutral rating on shares of QUALCOMM, Inc. This rating was issued on 3/31/17. The stock has a consensus rating of Hold and an average target price of $66.98.

02/14/2017 - QUALCOMM Incorporated had its "perform" rating reiterated by analysts at BMO Capital Markets. They now have a United States dollars 73 price target on the stock.

Basically, a price target is an individual analyst's projection on the future price of a stock.

Shares of QUALCOMM (NASDAQ:QCOM) traded down 0.30% during trading on Wednesday, reaching $52.45. QUALCOMM has a 52 week low of $50.11 and a 52 week high of $71.62. Analysts expected the company to deliver $5.89 billion. The stock has a 50 day moving average of $56.53 and a 200 day moving average of $61.96.

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The royalties issue also weighed on Qualcomm's second-quarter results.

The smartphone chip leader reported a second-quarter profit of $749 million on total sales of $5.02 billion, as the arbitration decision cut sharply into the company's top line and helped pull down revenue in its patent licensing segment by 40%, to $1.33 billion.

Qualcomm said it is expecting revenue of $5.3 billion to $6.1 billion with a 12-1 percent drop in the third quarter of fiscal 2017. 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. Operating cash flow was still up 11 percent year-on-year to Dollars 0.8 billion, and Qualcomm ended the quarter with total cash of USD 28.9 billion. Lederer & Associates Investment Counsel CA now owns 23,769 shares of the wireless technology company's stock worth $1,363,000 after buying an additional 505 shares during the last quarter.

Qualcomm's stock briefly rose about 2 percent in early trading despite a conservative outlook and potential turbulence over payments owed from Apple.

WARNING: This piece of content was originally posted by BBNS and is the sole property of of BBNS. If you are reading this news story on another website, it was illegally stolen and republished in violation of US and worldwide copyright and trademark legislation. Finally, Vetr downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating and set a $74.42 price objective for the company.in a report on Tuesday, January 17th. EPS is expected down 5-31 percent, at Dollars 0.67-0.92. This represents a $2.28 dividend on an annualized basis and a yield of 4.32%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 26th. QUALCOMM's payout ratio is 64.63%.

Stock is now moving with a negative distance from the 200 day simple moving average of approximately -13.49%, and has a poor year to date (YTD) performance of -18.56% which means the stock is constantly subtracting to its value from the previous fiscal year end price.



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