Qualcomm dips as Apple concerns outweigh strong earnings

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For the current year QUALCOMM, Inc.

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. For the last period, the company reported quarter over quarter EPS growth of -53.40% and quarter over quarter sales growth of 3.90%. Foundry Partners LLC's holdings in QUALCOMM were worth $10,503,000 as of its most recent filing with the SEC.

Notably, the stock has a Zacks Rank #4 (Sell). LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $105,000.

Rasgon, the Bernstein analyst, noted that in past patent spats with LG and others, Qualcomm has deferred recognizing royalty revenue from the company involved - even when it had already received payment - until a resolution was reached.

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Tightening the gaze, stock performance for the last 5 trading days is -4.95%. Finally, Ray Gerald L & Associates Ltd. raised its position in QUALCOMM by 19.4% in the third quarter. Institutional investors own 79.28% of the company's stock.

A 52-week high/low is the highest and lowest price that a stock has traded at during the previous year. (NASDAQ:QCOM) in a research note released on Wednesday. The firm has a market capitalization of $77.71 billion, a PE ratio of 16.04 and a beta of 1.31.

The stock's 50 day moving average is 56.89 and its 200 day moving average is 62.27.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 19th.

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Qualcomm Inc. (QCOM - Free Report), the largest manufacturer of wireless chipsets based on baseband technology in the USA, 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. Comparatively, the peers have a net margin 3.21%, and the sector's average is 4.65%. Qualcomm had issued earnings guidance for Q2 EPS to be in the range of $1.15 to $1.25 and for revenues to be in between $5.5B to $6.3B. During the second quarter of fiscal 2017, we returned $1.1 billion to stockholders, including $782 million, or $0.53 per share, of cash dividends paid and $283 million through repurchases of 4.8 million shares of common stock.

Revenue fell 9.6 pct to $5.02 billion in the three months ended March 26.

QUALCOMM has not only delivered better than expected earnings and revenue for the second quarter but also offered outlook for the third quarter that is in line with its tradition. Investors of record on Wednesday, May 31st will be issued a $0.57 dividend. The ex-dividend date is Friday, May 26th. It has a dividend yield of 2.31%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.53. QUALCOMM's dividend payout ratio (DPR) is now 64.63%. Shares have added about 5.7% in that time frame, outperforming the market. "(QCOM)" was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. 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. The original version of this story can be accessed at https://transcriptdaily.com/2017/04/20/qualcomms-qcom-neutral-rating-reaffirmed-at-jpmorgan-chase-co.html.

A number of other equities research analysts have also commented on the company. Meanwhile, due to a recent pullback which led to a fall of nearly -8.8% in the past one month, the stock price is now with underperforming -4.33% so far on the year - still in weak zone.

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04/18/2017 - QUALCOMM Incorporated had its "equal weight" rating reiterated by analysts at Morgan Stanley.

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