QUALCOMM Incorporated (NASDAQ:QCOM), with -1.87% losses in previous 5 sessions, is under coverage of 28 analysts who collectively assign a hold rating on stock. 14 of the brokerages firms have a buy or better rating; the 0 sells versus 0 underperforms. The 23 stock analysts who cover the stock have an average PT at $73.65, with individual targets in the range of $58 to $83. The shares ended last trade at $66.76, implying that Wall Street analysts see shares climbing about 10.32 per cent in 12 months’ time.
Insider Trading News: Insiders at the company look pessimistic about the outlook as they seem to offload shares while they have 38.32 jumped so far this year. A EVP, Qualcomm Technologies Inc at QUALCOMM Incorporated (QCOM) sold shares in a trading activity completed on Tuesday December 13, 2016. Grob Matthew S offloaded 2,000 shares in the company at a per-share price of $70 and ended up generating $140,000 in proceeds. Grob Matthew S retains 65,083 shares in the stock after this transaction. A EVP, Qualcomm Technologies Inc in the company, Grob Matthew S, on Monday December 12, 2016 collected $136,320 from the sale of 2,000 shares at a per-share price of $70. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention.
QUALCOMM Incorporated (NASDAQ:QCOM) Earnings on Tap
Investors interested in trading QCOM stock at the current market price of $66.76/share should know the company will next release quarterly results for the December 2016 quarter. For the reporting quarter, equity analysts expect the stock to deliver $1.17 in earnings per share (EPS). That would represent a 20.62 per cent year-over-year increase. Revenue for the same quarter is predicted to arrive at $6.11B.
Historical Quarterly Earnings: Last quarter, QUALCOMM Incorporated generated nearly $6.17B in sales and net income of $1.28/share. That compares with the mean forecast $5.84B and $1.13/share, respectively. For the prior quarter revenue for the stock hit $6.03B, with EPS at $1.16.
QUALCOMM Incorporated (QCOM) Analyst Rating News
Citigroup is following shares of QUALCOMM Incorporated (QCOM), so its rating change is noteworthy. The company stock was initiated at Neutral, wrote analysts at Citigroup, in a research note issued to clients on Wednesday December 21, 2016. There was another key research note provided by JP Morgan on Wednesday December 14, 2016. The firm lowered its rating on QCOM from Overweight to Neutral.
Price Potential: Even though the stock has posted -0.6% fall in value, its new closing price reflects a -6.06% fall in value from company’s one year high of $71.62. The stock is currently holding below its 50-day SMA of $67.29 and above its 200-day SMA of $62.5. Over the last 3 months and over the last 6 months, the shares of QUALCOMM Incorporated (QCOM), have changed 7.22% and 30.19%, respectively.
On December 19, 2016, Qualcomm Technologies, Inc., a subsidiary of QUALCOMM Incorporated (NASDAQ:QCOM), Ericsson, and SK Telecom announced plans to conduct interoperability testing and over-the-air field trials based on 5G New Radio (NR) standards being developed based on specifications in 3GPP. The trials intend to drive the mobile ecosystem toward rapid validation and commercialization of 5G NR technologies at scale, enabling timely commercial network launches based on 3GPP Rel-15 standard compliant 5G NR infrastructure and devices.
In the trials, the Companies will showcase new 5G NR technologies that utilize wide bandwidths available at higher frequency bands to increase network capacity and achieve multi-gigabit per second data rates. These technologies will be critical to meeting the increasing consumer connectivity requirements for emerging consumer mobile broadband experiences such as virtual reality, augmented reality and connected cloud services. Additionally, the proliferation of 5G NR technology can make it more cost-effective and easier for multi-gigabit Internet service to reach more homes and businesses.
The trials will employ 3GPP 5G NR Multiple-Input Multiple-Output (MIMO) antenna technology with adaptive beamforming and beam tracking techniques to deliver robust and sustained mobile broadband communications at higher frequency bands, including non-line-of-sight (NLOS) environments and device mobility. It will also make use of scalable OFDM-based waveforms and a new flexible framework design that are also part of the 5G NR specifications. The trials are expected to yield valuable insight into the unique challenges of integrating 5G NR technologies into mobile networks and devices.
The interoperability testing and trials, which will launch in Korea starting in the second half of 2017, are intended to track closely with, as well as help accelerate, the first 3GPP 5G NR specification that will be part of Release 15 – the global 5G standard that will make use of both sub-6 GHz and mmWave spectrum bands. Tracking the 3GPP specification is important because it promotes adherence and validation with the global 5G standard, accelerating the time to standard-compliant devices and infrastructure. It will also drive forward compatibility to future 3GPP 5G NR releases.