Chipmaker Qualcomm's revenue falls 9.6 pct

Chipmaker Qualcomm's revenue falls 9.6 pct

This is the price at which the trader or investor wants to exit his existing position so he can realize the most reward. The stock was bought at an average price of $53.13 per share, for a total transaction of $999,640.95. Different analysts and financial institutions use various valuation methods and consider different economic forces when deciding on a price target.

The Company has 1477.04 million shares outstanding and 1475.34 million shares were floated in market. Current ratio which is the relationship between current assets and current liabilities, indicating the liquidity of a business is calculated as 2.00. Investors will be eagerly watching to see if the firm beats or misses on the earnings front.

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.

Looking ahead, QCOM forecast Q3 EPS of $0.90 to $1.15, roughly in-line with the $1.10 per share that analysts are looking for. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6.12 billion. Qualcomm's licensing segment also grew in the last quarter, earning more than $2.2 billion in revenue, an increase of 5 percent year-over-year. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income.

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Qualcomm's (NASDAQ:QCOM) share price jumped after beating revenue and earnings estimates for the second quarter by $90 million and $0.14 per share.

eBay posted non-GAAP earnings of 49 cents per share on $2.2 billion in revenue, compared to the consensus estimates of 48 cents per share and $2.2 billion. Revenues fell 10 percent year-on-year to United States dollars 5.0 billion, and net profit was down 36 percent to USD 0.7 billion. The Moving Average SMA50 is -5.74% while SMA200 is -13.02%. "But we know these periods can generate added volatility in near term results and require open and regular dialogue with our investors". Angled up and price is moving up (or was recently) overall, angled down and price is moving down overall, moving sideways and the price is likely in a range. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -6.34%.

QUALCOMM, Inc. has a 52-week low of $50.11 and a 52-week high of $71.62. Analysts are hoping to see $5.91bn and an EPS of $1.10. However brokerage recommendations suggests an ABR of 1.86 based on calls of 21 experts, where 12 brokers polls the stock a Strong Buy, 0 suggest the stock a Buy, 9 suggest Hold, 0 are rating the stock as Sell while 0 as Strong Sell. "While QCOM noted some 1H17 softness and inventory in the China handset market coming off a much stronger 2H16, we would note QCOM MSM shipments were inline to better than consensus, potentially with some share gains in the China handset market". (NASDAQ:QCOM) from a buy rating to a neutral rating in a research note published on Wednesday morning. CLSA also Downgrade the company to Underperform on 23-Jan-17, 2016. They now have a United States dollars 75 price target on the stock.

During last 5 trades the stock sticks nearly 0.37%. Overall, however, its stock remains at the bottom of a steep slope that began with the start of its legal battles with Apple and the FTC in January. Stifel Nicolaus dropped their price target on shares of QUALCOMM from $65.00 to $64.00 and set a buy rating on the stock in a report on Thursday, March 30th. However, over the past three months, the stock declined 16.3%, while the Zacks categorized Wireless Equipment industry contracted 4.2%.

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