Qualcomm (QCOM) Payment Catch Up Doesn't Change The Outlook - Mizuho

Mizuho Securities analyst, Vijay Rakesh, doesn't buy into a sustainable improvement in Qualcomm's (NASDAQ: QCOM) business. He noted that "QCOM reported JunQ rev/EPS ahead of consensus with China/Samsung S7 and some catch-up licensing. The SepQ guide was flat q/q, with QCT chip shipments flat q/q and y/y, compared to Mediatek 4G shipments growing 80%+ y/y. So while licensing was aided by catch-up, we believe that tailwind will subside and QCOM faces challenges in 4G chip market share and pricing."

The price target rises to $56.00 (from $50.00) but there is no change to the Neutral rating.

For an analyst ratings summary and ratings history on Qualcomm click here. For more ratings news on Qualcomm click here.

Shares of Qualcomm closed at $55.82 yesterday.

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