Stock Update (NASDAQ:QCOM): How Will Qualcomm (QCOM) Stock React to Audi Partnership?

[at TheStreet] – Qualcomm (QCOM) is teaming up with Volkswagen’s (VLKAY) Audi to use its “Snapdragon 620A” processor in 2017 model cars. Read more on this. QUALCOMM Incorporated (QCOM) , with a current market cap of $73.86B, started trading this morning at $50.46. A quick look at the market, the company’s stock traded between $49.07 and $50.60 with the price of the stock fluctuating between $45.93 to $75.30 over the last 52 weeks. Qualcomm (QCOM) shares are currently priced at 11.99x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.01x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.92 per share annually in dividends, yielding 3.84%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.90 per share, which would be $0.44 worse than the year-ago quarter and a $0.20 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.18 is a $0.48 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.68 Billion. If realized, that would be a 20.00% decrease over the year-ago quarter. In terms of ratings, JP Morgan upgraded QCOM from Neutral to Overweight (Dec 17, 2015). Previously, Nomura downgraded QCOM from Buy to Neutral. The average price target for QCOM shares is $62.23, which is 23.33% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Market Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Gains on Chinese Patent License Deal Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Is Qualcomm Stock Suitable for Your IRA or Roth IRA? Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm (QCOM) Stock Price Target Lowered at Canaccord Genuity