According to media reports out of China, one of the most anticipated mobile processors of the year, the Qualcomm Snapdragon 820 may be headed into Samsungs upcoming Galaxy S7 smartphone. Not only this, but according to reports, the deal would be exclusive to Samsung, providing them with a significant advantage against competing smartphone manufacturers. While this would be outstanding news for Samsung, it may be even better news for QUALCOMM, Inc. (NASDAQ:QCOM) shareholders, as the Galaxy S7 will more than likely be the best selling Android device of 2017, meaning lots of demand for their latest processor.
While such a deal has yet to be offically confirmed by ether company, such a tie-up seems to make a lot of sense. The stock increased 2.80% or $1.33 during the last trading session, hitting $48.76. About 12.35M shares traded hands. QCOM has declined 32.65% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 30.38%.
From a total of 20 analysts covering Qualcomm Inc. (NASDAQ:QCOM) stock, 11 rate it a “Buy”, 0 a “Sell”, and 9 a “Hold”. This means that 55% of the ratings are positive. The highest target price is $75 while the lowest target price is $52. The mean of all analyst targets is $64.06 which is 31.38% above today’s ($48.76) stock price. Qualcomm Inc. was the topic of 34 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Topeka Capital Markets maintained shares on December 16 with a “Hold” rating. Rosenblatt initiated shares with a”Buy” rating and a $65 target share price in their report from an October 22. Pacific Crest initiated QCOM stock in a recent report from December 4 with a “Overweight” rating. JP Morgan initiated the rating on September 8. JP Morgan has a “Neutral” rating and a $57.50 price target on shares. Finally, Stifel Nicolaus maintained the stock with a “Buy” rating in a report they issued on a November 19.
The institutional sentiment decreased to 0.63 in Q2 2015. It’s down 0.30, from 0.93 in 2015Q2. The ratio fall, as 154 funds sold all their QUALCOMM, Inc. shares they owned while 677 reduced their positions. 93 funds bought stakes while 428 increased their total positions. Institutions now own 1.06 billion shares which is 14.12% less than the previous share count of 1.24 billion in 2015Q2.
Jana Partners Llc holds 17.29% of its total portfolio in QUALCOMM, Inc., equating to 28.55 million shares. Orbis Investment Management (U.S.) Llc owns 213,730 shares representing 10.41% of their total US portfolio. Moreover, Penn Davis Mcfarland Inc has 9.19% of their total portfolio invested in the company, equating to 650,023 shares. The United Kingdom-based Generation Investment Management Llp has a total of 8.8% of their portfolio invested in the stock. Spo Advisory Corp, a California-based fund reported 9.44 million shares owned.
Since March 11, 2015, the stock had 1 insider purchase, and 4 selling transactions for a total of $690,853 in net activity. Renduchintala Venkata S M sold 2,700 shares worth $150,066. Amon Cristiano R sold 2,737 shares worth $146,621. Vinciquerra Anthony J bought 1,000 shares worth $54,700. Sterling Michelle M sold 4,185 shares worth $248,253. The insider Aberle Derek K sold 14,794 shares worth $981,465.
Qualcomm Incorporated is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The company has a market cap of $71.54 billion. The Company’s products include 2net, AllPlay, Brew, Gobi, Halo, HealthyCircles, Hy-Fi, IPQ, IZat, Pixtronix, Powerline, QChat, QLearn, Small Cells, Snapdragon, Vive, RaptorQ, Vuforia and WiPower. It has 15.22 P/E ratio. AllPlay helps manufacturers create devices and services.