Company Update (NASDAQ:QCOM): What Does Qualcomm’s Latest Licensing Deal With EWPE Imply?

[at Forbes] – Leading chipset maker, Qualcomm has recently entered into a patent licensing agreement with Chinese OEM – Zhuhai Ewpe Information Technology Inc. EWPE is a subsidiary of Gree Electrical Appliances Inc, a manufacturer of home electrical appliances. Gree, being a manufacturer of home electrical appliances, is expanding its reach to smart connected Read more on this. QUALCOMM Incorporated (QCOM) , with a current value of $76.92B, opened at $50.86. Looking at the stock, its one day range is $50.86 to $51.49 with its 52-week range being $42.24 to $71.90. QCOM shares are currently priced at 12.30x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.70x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.12 per share annually in dividends, yielding 4.19%. According to a consensus of 26 analysts, the earnings estimate of $0.96 per share would be $0.44 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $4.11 which would be a $0.55 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.33 Billion. If reported, that would be a 22.64% decrease over the year-ago quarter. Recently, Barclays downgraded QCOM from Overweight to Equal Weight (Mar 28, 2016). Previously, Bernstein upgraded QCOM from Mkt Perform to Outperform. Investors should keep in mind is that the average price target is $56.66, which is 11.40% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Signs 3G/4G Chinese Patent License Agreement with EWPE Company Update (NASDAQ:QCOM): Here’s Why Qualcomm (QCOM) Stock is Up Market Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Gains on Chinese Patent License Deal