Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Afero Launches New Secure Hub to Accelerate Innovation for the Internet of Things

[PR Newswire] – LOS ALTOS, Calif., Jan. 6, 2016 /PRNewswire/ — Today Afero, the IoT platform that connects and secures every smart thing, launched the Afero Secure Hub, a standalone physical gateway that allows manufacturers to continuously monitor and control their smart devices. Afero has selected Qualcomm Atheros, Inc., a subsidiary of Qualcomm Incorporated (QCOM) to ensure secure and reliable communication between the Afero Cloud and any device equipped with the Afero Secure Radio module. Afero will leverage Qualcomm Atheros’ AR9344, a highly integrated and feature-rich Wi-Fi® solution, for residential and commercial IoT hub development. Read more on this. QUALCOMM Incorporated (QCOM) , with a current value of $72.52B, started trading this morning at $48.53. Today, shares have traded between $47.76 and $48.57 per share with a one year range of $45.93 to $75.30. Priced at 11.76x this year’s forecasted earnings, QCOM shares are relatively inexpensive compared to the industry’s 12.01x forward p/e ratio. And for those looking to make a return holding the stock, 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. Furthermore, our analysis shows the full-year EPS estimate to be $4.18, which would be a $0.48 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 $5.68 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. When considering if the stock is under or overvalued, the average price target is $62.23, which is 28.23% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – From Disappointment To Modest Optimism: The Street Is Mixed On Qualcomm Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Is Qualcomm Stock Suitable for Your IRA or Roth IRA? Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm (QCOM) Stock Down in After-hours Trading Following Earnings Results