Canaccord Genuity Maintains QUALCOMM to Buy with Price Target $70.00

Brokerage firm Canaccord Genuity Maintains its rating on QUALCOMM(NASDAQ:QCOM). In a research note issued to the investors, the brokerage major Raises the price-target to $70.00 per share. The shares have been rated Buy. The rating by Canaccord Genuity was issued on Jul 21, 2016.

In a different note, On Jul 21, 2016, Oppenheimer said it Maintains its rating on QUALCOMM. The shares have been rated ‘Perform’ by the firm. On Jun 30, 2016, Bernstein said it Downgrades its rating on QUALCOMM. The shares have been rated ‘Market Perform’ by the firm. On Jun 9, 2016, Brean Capital said it Downgrades its rating on QUALCOMM. The shares have been rated ‘Hold’ by the firm. CLSA said it Initiates Coverage on QUALCOMM, according to a research note issued on May 17, 2016. The shares have been rated ‘Outperform’ by the firm.

QUALCOMM (QCOM) made into the market gainers list on Wednesdays trading session with the shares advancing 1.23% or 0.68 points. Due to strong positive momentum, the stock ended at $55.82, which is also near the day’s high of $55.95. The stock began the session at $55.36 and the volume stood at 1,72,04,320 shares. The 52-week high of the shares is $66.05 and the 52 week low is $42.24. The company has a current market capitalization of $81,995 M and it has 1,46,89,15,200 shares in outstanding.

QUALCOMM has also declared a cash dividend of $0.5300 on Jul 12, 2016. The shares will quote ex-dividend on Aug 29, 2016 and the record date has been fixed on Aug 31, 2016. The dividend payable date has been fixed on Sep 21, 2016.

QUALCOMM(QCOM) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.54B. Analysts had an estimated revenue of $5.34B. Earnings per share were $1.04. Analysts had estimated an EPS of $0.96.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Matthew S Grob (EVP, Qualcomm Technologies Inc) sold 10,000 shares at $55.25 per share price.Also, On May 11, 2016, Cristiano R Amon (EVP and President, QCT) sold 6,887 shares at $51.51 per share price.On Apr 14, 2016, James H Thompson (EVP, Qualcomm Technologies Inc) sold 35,000 shares at $51.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G) fourth-generation (4G) and next-generation wireless technologies. The Company’s products include 2net AllPlay Brew Gobi Halo HealthyCircles Hy-Fi IPQ IZat Pixtronix Powerline QChat QLearn Small Cells Snapdragon Vive RaptorQ Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Company’s Brew platform enables feature phone applications such as gaming messaging Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G 4G and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points creating networks by plugging in.

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