Mizuho Securities Upgrades QUALCOMM to Buy

Brokerage firm Mizuho Securities Upgrades its rating on QUALCOMM(NASDAQ:QCOM). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, On Sep 29, 2016, Argus Research said it Maintains its rating on QUALCOMM. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 25, 2016, Standpoint Research said it Downgrades its rating on QUALCOMM. The shares have been rated ‘Hold’ by the firm. On Jul 21, 2016, Oppenheimer said it Maintains its rating on QUALCOMM. The shares have been rated ‘Perform’ by the firm. On Jul 21, 2016, Canaccord Genuity said it Maintains its rating on QUALCOMM. In the research note, the firm Raises the price-target to $65.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 21, 2016, Nomura said it Maintains its rating on QUALCOMM. The shares have been rated ‘Neutral’ by the firm. On Jul 21, 2016, Pacific Crest said it Maintains its rating on QUALCOMM. In the research note, the firm Raises the price-target to $59.00 per share. The shares have been rated ‘Overweight’ by the firm.

QUALCOMM (QCOM) shares turned negative on Tuesdays trading session with the shares closing down -0.43 points or -0.64% at a volume of 97,46,412. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $67.7. The peak price level was also seen at $67.7 while the days lowest was $66.56. Finally the shares closed at $66.68. The 52-week high of the shares is $70.4 while the 52-week low is $42.24. According to the latest information available, the market cap of the company is $98,263 M.

QUALCOMM(QCOM) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $6.03B. Analysts had an estimated revenue of $5.58B. Earnings per share were $1.16. Analysts had estimated an EPS of $0.97.

Several Insider Transactions has been reported to the SEC. On Sep 30, 2016, Matthew S Grob (EVP, Qualcomm Technologies Inc) sold 74,000 shares at $66.25 per share price.Also, On Sep 29, 2016, Derek K Aberle (President) sold 15,000 shares at $63.55 per share price.On Sep 12, 2016, James H Thompson (EVP, Qualcomm Technologies Inc) sold 10,000 shares at $60.94 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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