In addition, on December 9, Chaplin acquired 25,455 shares at no cost, following the vesting of Performance Stock Units as certified by the HR and Compensation Committee. After these transactions, Chaplin holds 17,153 shares of Qualcomm (NASDAQ:QCOM) stock. These sales were made under a Rule 10b5-1 trading plan adopted earlier in the year. The company maintains strong financial health with a 'GOOD' rating from InvestingPro, supported by 22 consecutive years of dividend payments and a current yield of 2.17%. Nineteen analysts have recently revised their earnings expectations upward, suggesting positive momentum ahead. The company maintains strong financial health with a 'GOOD' rating from InvestingPro, supported by 22 consecutive years of dividend payments and a current yield of 2.17%. Nineteen analysts have recently revised their earnings expectations upward, suggesting positive momentum ahead.
In addition, on December 9, Chaplin acquired 25,455 shares at no cost, following the vesting of Performance Stock Units as certified by the HR and Compensation Committee. After these transactions, Chaplin holds 17,153 shares of Qualcomm stock. These sales were made under a Rule 10b5-1 trading plan adopted earlier in the year.
In other recent news, Qualcomm has been the center of multiple analyst assessments. Melius Research initiated coverage on Qualcomm with a Hold rating and a stock target of $180, forecasting a deceleration in revenue growth. Meanwhile, TD (TSX:TD) Cowen reiterated a Buy rating and a $200 stock target, emphasizing potential growth in the automotive sector and advancements in artificial intelligence. Susquehanna reaffirmed its positive stance but reduced the price target to $210, expressing confidence in Qualcomm's transition to a more diversified semiconductor player. Cantor Fitzgerald maintained a Neutral rating, citing the company's strategic shift towards enabling intelligent computing across various platforms.
In terms of financials, Qualcomm reported non-GAAP revenues of $10.2 billion and earnings per share of $2.69. The chipset segment contributed $8.7 billion in revenues, while the licensing segment brought in $1.5 billion. The automotive market reported record revenues of $899 million.
The company has also unveiled a strategy to target a total addressable market of approximately $900 billion by 2030, with significant growth expected in the automotive, IoT, PC, industrial, and extended reality sectors. These are the recent developments from Qualcomm.
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