Nomura Securities Raises PT & Estimates on Qualcomm (QCOM); Q1 Review

Nomura Securities maintains a 'Neutral' on Qualcomm (NASDAQ: QCOM) price target raised from $55 to $60.

Analyst, Romit Shah, said, "Qualcomm reported F1Q revenue and EPS of $4.7bn and $0.86 (with options), above our estimate and consensus of $4.5bn/$0.78. The company reported 156mn in MSM shipments, exceeding our estimate by 4mn units. QCT operating margin of 24% was 200bp higher than our estimate. The company guided F2Q revenue and EPS of $4.8bn and $0.80 (with options), higher than our estimate of $4.5bn/$0.72, respectively. Overall our FY12 estimates increase from $18.5bn/$3.03 to $19.3bn/$3.23 (with options)."

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 $59.56 yesterday.

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