Market Overview

Shares Of QUALCOMM Fall Following Tigress Downgrade

Related QCOM
Qualcomm and Mellanox Collaborate to Enable Advanced, Cost-Effective Data Center Platforms for Servers and Storage
5 Charts From Goldman Sachs That Support Carl Icahn's Buyback-Danger Thesis
Nintai Charitable Trust: Q3 Report (GuruFocus)

In a report published Friday, Tigress Financial analyst Ivan Feinseth downgraded QUALCOMM (NASDAQ: QCOM) from Strong Buy to Buy due to headwinds from a slower-than-expected LTE ramp in China.

Feinseth reported that QUALCOMM remains a solid business as Business Performance Divers remain positive with strong licensing and royalty driving free cash flow. The analyst remarked that the company "dominates the mobile chip market, their Snapdragon processor is the dominant processor in mobile communications. The next generation handsets will provide a boost for QCOM; the recently introduced Samsung Galaxy S5 and soon to be released iPhone 6, have integrated QCOM components."

Despite accelerating profit and an increase in dividend, the firm commented that China's slower-than-expected LTE ramp presents a near to mid-term headwind.

Shares of QUALCOMM closed at $80.43 on Thursday. Following the mid-day note, the stock has seen a gradual descent. Shares are currently down 1.39 percent at $79.31.

Latest Ratings for QCOM

Sep 2015JP MorganAssumesNeutral
Aug 2015Standpoint ResearchUpgradesHoldBuy
Jul 2015Morgan StanleyUpgradesEqual-weightOverweight

View More Analyst Ratings for QCOM
View the Latest Analyst Ratings

Posted-In: Ivan Feinseth Tigress FinancialAnalyst Color Downgrades Analyst Ratings


Related Articles (QCOM)

Get Benzinga's Newsletters