Market Update (NASDAQ:QCOM): Qualcomm Stock is Broken, Not the Company

[at Investopedia] – With some 17,000 patents in its portfolio, good luck finding a state-of-the-art smartphone that doesn’t contain Qualcomm’s chips design. Read more on this. QUALCOMM Incorporated (QCOM) , valued at $69.88B, started the session at $46.35. Looking at today’s trading action, the company’s one day range from $46.30 to $46.53 with a trailing 52-week range being $45.84 to $75.05. QCOM shares are currently priced at 11.00x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 11.54x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.92 per share annually in dividends, yielding 4.19%. Consensus earnings for the current quarter by the 29 sell-side analysts covering the stock is an estimate of $0.90 per share, which would be $0.44 worse than the year-ago quarter and a $0.20 sequential decrease. The full-year EPS estimate is $4.17 which would be a $0.49 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.68 Billion. If realized, that would be a 20.00% decrease over the year-ago quarter. More recently, JP Morgan upgraded QCOM from Neutral to Overweight (Dec 17, 2015). Previously, Nomura downgraded QCOM from Buy to Neutral. The average price target for QCOM shares by the analysts covering the stock is $62.20, which is 34.20% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Market Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Gains on Chinese Patent License Deal Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Is Qualcomm Stock Suitable for Your IRA or Roth IRA? Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm (QCOM) Stock Down in After-hours Trading Following Earnings Results