Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Analysts: Qualcomm’s Good Results Don’t Hide Smartphone Uncertainty

[Benzinga] – QUALCOMM, Inc. (NASDAQ: QCOM ) reported first-quarter 2016 results on Wednesday, reporting $5.77 billion in non-GAAP revenue and $0.97 diluted EPS. The company beat an anticipated $5.69 billion revenue … Read more on this. QUALCOMM Incorporated (QCOM) , with a current value of $67.65B, started the session at $43.91. During the trading session, QCOM traded between $43.67 to $45.30 with a one year range of $43.47 to $74.09. QCOM shares are currently priced at 10.63x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.47x forward p/e ratio. And for income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 3.96%. According to a consensus of 29 analysts, the earnings estimate of $0.96 per share would be $0.44 worse than the year-ago quarter and a $0.21 sequential decrease. The full-year EPS estimate is $4.10, which would be a $0.56 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.36 Billion. If realized, that would be a 22.21% decrease over the year-ago quarter. More recently, Susquehanna upgraded QCOM from Neutral to Positive (Jan 13, 2016). Previously, JP Morgan upgraded QCOM from Neutral to Overweight. With the above information in mind, readers should note that the average price target is $59.87, which is 36.35% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – GSK said to be in talks with Qualcomm to form JV – Bloomberg Stock Update (NASDAQ:QCOM): EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Qualcomm Incorporated – QCOM Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Is Qualcomm Stock Suitable for Your IRA or Roth IRA?