Stock Update (NASDAQ:QCOM): Qualcomm Jumps 4% on No Breakup, But BMO Disappointed No Further Change

[at Barrons.com] – Shares of chip giant Qualcomm (QCOM) are up $1.79, or almost 4%, at $48.65, after the company this morning stated that a review by its board of directors of the nature of the company’s business concluded with a recommendation that the company keep intact the combination of its patent licensing division and its chip making division. Said Qualcomm, The Board of Directors and management, with the assistance of independent advisors, have completed a comprehensive review of the Company’s corporate and financial structure. Following the review, upon the unanimous recommendation of the Special Committee, the Board unanimously concluded that the Company’s current corporate and financial structure best positions Qualcomm to maintain its technology leadership and product strength, so as to drive the greatest long-term stockholder value. Read more on this. QUALCOMM Incorporated (QCOM) , with a current market cap of $72.18B, opened at $47.50. Today, shares have traded between $46.80 and $48.80 per share and has traded between $45.93 and $75.72 over the past year. Qualcomm (QCOM) shares are currently priced at 11.26x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 11.45x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.92 per share annually in dividends, yielding 4.05%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.87 per share, which would be $0.47 worse than the year-ago quarter and a $0.24 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.16, which would be a $0.50 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.63 Billion. If realized, that would be a 20.70% decrease over the year-ago quarter. In terms of ratings, Standpoint Research upgraded QCOM from Hold to Buy (Aug 24, 2015). Previously, Morgan Stanley upgraded QCOM from Equal-Weight to Overweight. The average price target for QCOM shares by the analysts covering it is $64.28, which is 35.33% above where the stock opened. See more in (NASDAQ:QCOM) Similar Articles: Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm (QCOM) Stock Down in After-hours Trading Following Earnings Results Stock Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Rising on Breakup Speculation Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm (QCOM) Stock Price Target Lowered at Canaccord Genuity