Company Update (NASDAQ:QCOM): Intel And Qualcomm Partner (Yes, Really) To Move WiGig 60 GHz 802.11AD Wi-Fi Forward

[at Forbes] – For the longest time, the 802.11ad space, also known as WiGig by others, was a conglomeration of different 60 GHz Wi-Fi technologies. There have been many companies that have announced technologies utilizing 60 GHz Wi-Fi technologies including Intel, Nitero, Peraso, Qualcomm, Samsung Electronics and SiBEAM. Even though many of these […] Read more on this. QUALCOMM Incorporated (QCOM) , with a current market cap of $65.68B, began trading this morning at $43.60. A quick look at the market, the company’s stock traded between $43.31 and $44.59 with a one year range of $42.88 to $74.09. QCOM shares are currently priced at 10.55x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 13.33x earnings multiple. And for passive income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 4.23%. According to a consensus of 28 analysts, the earnings estimate of $0.97 per share would be $0.43 worse than the year-ago quarter and a $0.06 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.09 would be a $0.57 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.35 Billion. If reported, that would be a 22.35% decrease over the year-ago quarter. In terms of ratings, Susquehanna upgraded QCOM from Neutral to Positive (Jan 13, 2016). Previously, JP Morgan upgraded QCOM from Neutral to Overweight. Investors should keep in mind is that the average price target is $59.28, which is 35.96% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Market Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Down on Dismal Outlook Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Appoints Jeffrey W. Henderson to its Board of Directors Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Intel May Transform from Outside In, Says Linley Group