Nomura Securities Maintanis a 'Neutral' on Qualcomm (QCOM); FQ4 Review

Nomura Securities maintanis a 'Neutral' on Qualcomm (NASDAQ: QCOM) price target raised $2 to $55.

Nomura analyst, Romit Shah, said, "Qualcomm reported FQ4 with revenue of $4.1bn and EPS of $0.80, slightly above our estimates of $4.1bn/$0.78. However, F12 revenue guidance of $18-19bn (+20-27% y/y) is much stronger than our prior forecast of $17.1bn (+15%). Qualcomm was upbeat about the long-term trend toward connectivity integration. Although we expect traction, we believe Broadcom should sustain market share in 2012 driven by gains versus TI (Nokia (NYSE: NOK)) and in low-end smartphones. Overall, our EPS estimates increase from $0.82 to $0.90 in FQ1 and from $3.61 to $3.65 (CY12E)."

For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.

Shares of Qualcomm closed at $52.18 yesterday.

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