Finance

CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent

CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent

The average volume stands around 6.6 million shares.

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that calculates the speed and change of price movements. RSI oscillates between zero and 100. Usually the RSI is considered overbought when above 70 and oversold when less than 30. The stock's current RSI reading is at 22.57. It is important to mention that target price projections can be very different between analysts. They presently have a $78.00 price objective on the wireless technology company's stock. Meanwhile, due to an ongoing pressure which caused a decline of nearly -6.62% in the past five days, the stock price is now down -18.28% so far on the year - still in weak territory.

Wall Street analysts have the ability to use various metrics to help calculate target projections. And if the market is an indicator, investors are not taking the legal issues to heart as Qualcomm's stock rose two per cent after the announcement was made. Jefferies Group LLC's price target indicates a potential upside of 48.26% from the company's previous close. Consensus earnings estimates are far from flawless, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock.

The lawsuit by Apple and the other regulatory probes throughout the world have spooked investors through challenging the company's royalty business model. GW Henssler & Associates Ltd. increased its stake in shares of QUALCOMM by 1.8% in the second quarter.

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Qualcomm's non-GAAP results seem to be a bit better as they list their net Income at $2 Billion up from $1.6 Billion a year ago, while both Operating Income and Revenues went up from $1.9 Billion and $5.5 Billion to $2.2 Billion and $6 Billion. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. On average, analysts forecast that QUALCOMM will post $4.66 earnings per share for the current fiscal year. The QTL licensing branch saw revenues of $2.25bn, up 5 per cent year-over-year.

EPS in next five year years is expected to touch 8.90% while EPS growth in past 5 year was 12.70% along with sales growth of 3.50% in the last five years. QUALCOMM accounts for 2.3% of Bristol Advisors LLC's portfolio, making the stock its 11th largest position. He also added that the company understands that these periods could lead to increased volatility in the future results and need open as well as regular dialogue with their investors.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. The company has a 50-day moving average price of $56.53 and a 200 day moving average price of $61.96. In this case, shares are down -25.02% from $71.62, the 52-week high touched on October 27, 2016, and are keeping their losses at 5.51% for the past 12 months. The company has a 1 Year high price target of $64.74. Finally, Susquehanna Bancshares Inc began coverage on QUALCOMM in a research note on Tuesday, December 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Canaccord Genuity reaffirmed a "buy" rating and set a $81.00 target price on shares of QUALCOMM in a report on Thursday, January 12th. The firm bought 34,500 shares of the wireless technology company's stock, valued at approximately $2,249,000. Moreover, Charter Equity issued Downgrade rating for the stock on 24-Jan-17.


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