Stock Update (NASDAQ:QCOM): Why You Should Buy Qualcomm Shares Before the Chipmaker Reports Earnings

[at TheStreet] – Here’s why you should buy smartphone chip-maker Qualcomm (QCOM) now, ahead of its earnings announcement. Read more on this. QUALCOMM Incorporated (QCOM) , valued at $77.58B, started the session at $51.23. During the trading session, QCOM traded between $51.15 to $52.44 and has traded between $42.24 and $71.32 over the past year. QCOM shares are currently priced at 12.36x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.70x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $2.12 per share annually in dividends, yielding 4.19%. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $0.96 per share, which would be $0.44 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $4.11, which would be a $0.55 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.33 Billion. If realized, that would be a 22.64% decrease over the year-ago quarter. Recently, Barclays downgraded QCOM from Overweight to Equal Weight (Mar 28, 2016). Previously, Bernstein upgraded QCOM from Mkt Perform to Outperform. Investors should keep in mind is that the average price target is $56.72, which is 10.72% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Advances Ahead of Upcoming Earnings Release Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Earnings Preview: Has This Chipmaker Finally Bottomed? Company Update (NASDAQ:QCOM): What to Expect When Qualcomm (QCOM) Reports Earnings