FBR Capital Maintains an 'Outperform' on Qualcomm (QCOM); Checks Support Upside September Guidance
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Price: $163.63 +1.41%
Rating Summary:
29 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
29 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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FBR Capital maintains an 'Outperform' on Qualcomm (NASDAQ: QCOM), PT increased from $65 to $70.
FBR analyst says, "Near-term checks suggest Qualcomm is tracking in the upper half of calendar 2Q11 revenue guidance, though some handset inventory adjustments occurring at Samsung, LG, and HTC may drive revenues towards the midpoint of June guidance. For calendar 3Q11, Qualcomm could provide upside revenue guidance of $3.85B–$4.15B (versus the Street's $3.9B) and upside QCT chipset unit guidance of 134M–138M units driven by: (1) inventory clearance activities in 2Q11 that drive easier 3Q11 comparables and a decent snapback; (2) solid seasonal growth in handsets and smartphones; (3) the layering in of an additional 7M–9M iPhone 5 units in September; and (4) Qualcomm's strong design win momentum in recent quarters."
For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.
Shares of Qualcomm closed at $57.16 yesterday.
FBR analyst says, "Near-term checks suggest Qualcomm is tracking in the upper half of calendar 2Q11 revenue guidance, though some handset inventory adjustments occurring at Samsung, LG, and HTC may drive revenues towards the midpoint of June guidance. For calendar 3Q11, Qualcomm could provide upside revenue guidance of $3.85B–$4.15B (versus the Street's $3.9B) and upside QCT chipset unit guidance of 134M–138M units driven by: (1) inventory clearance activities in 2Q11 that drive easier 3Q11 comparables and a decent snapback; (2) solid seasonal growth in handsets and smartphones; (3) the layering in of an additional 7M–9M iPhone 5 units in September; and (4) Qualcomm's strong design win momentum in recent quarters."
For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.
Shares of Qualcomm closed at $57.16 yesterday.
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