QUALCOMM, Inc. Q2 Earnings Top View, Q3 Outlook In-Line

Steve Mollenkopf CEO of Qualcomm at the Mobile World Congress in Barcelona on Feb. 23 2016

Steve Mollenkopf CEO of Qualcomm at the Mobile World Congress in Barcelona on Feb. 23 2016

It has been about a month since the last earnings report for QUALCOMM IncorporatedQCOM. Qualcomm's Snapdragon processor is known for its IoT applications.

"With our leading technology roadmap and pending acquisition of NXP, we are positioned to address a larger set of opportunities ahead than any other time in our history", he said, referencing the purchase of a semiconductor firm based in The Netherlands. The bad news is that Qualcomm may not be out of the woods yet as the stock remains quite weak compared with other chip stocks. The Company's products principally consist of integrated circuits (chips or chipsets) and system software used in mobile devices and in wireless networks.

"Recent supply chain work suggests that Apple will likely reduce Qualcomm modem share in the iPhone 8 from 60% to 35% in second-half 2017", Zhang said in a report. (NASDAQ:QCOM) traded up 0.10% during mid-day trading on Thursday, hitting $52.66. Additionally, Instinet Downgrade its ratings on the stock to Neutral. Oppenheimer Holdings, Inc. restated a market perform rating on shares of QUALCOMM in a research report on Monday, January 30th. Susquehanna Initiates Coverage On QUALCOMM Incorporated (QCOM) to Positive with no specific Price Target.

Merrill Lynch maintained its Buy rating and $66 price objective.

During its last trading session, Stock traded with the total exchanged volume of 12.79 million shares. Analysts play a useful role in our capital markets. The company's 50-day moving average price is $56.89 and its 200-day moving average price is $62.27. The stock has a market capitalization of $83.64 billion, a P/E ratio of 17.27 and a beta of 1.31. The chipmaker, which reported results on Wednesday, also saw its revenue top estimates. That division, which licenses patents essential to mobile communications and collects royalties on almost every smartphone sold, typically brings the majority of Qualcomm's pretax net profit. Revenue came in at $5.99 billion for the quarter, also topping consensus estimates for $5.89 billion. Its yearly sales growth estimates are 6.30%.

Hanmi Financial Corporation (NASDAQ:HAFC) Under Analyst Spotlight
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink . BlackRock Advisors LLC increased its position in shares of First Financial Corporation Indiana by 2.1% in the second quarter.

eBay's net income fell to $538 million from $550 million in last year's first quarter. The company is expected to release $1.19 EPS for current quarter according to 22 analysts whereas the company reported $1.04 EPS during same quarter a year ago. If you are viewing this story on another site, it was illegally copied and reposted in violation of global copyright laws.

Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 26th. This is an increase from QUALCOMM's previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.33%.

Qualcomm said it was unsure whether Apple's manufacturers would withhold any royalties owed during the current quarter.

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