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( QCOM - Get Report )
upgraded to outperform from market perform
at Morgan Keegan, with a $61 price target, based on the company's solid quarter and expectations of continued smartphone demand.
As of the most-recent reporting period, Qualcomm comprises 0.5% of
George Soros' portfolio
and 2.9% of
Private Capital Management
. Soros increased his number of Qualcomm shares by 190.9% during the period.
: Qualcomm designs manufacture and markets digital wireless telecommunications products and services based on its CDMA technology and other technologies. It has traded in a 52-week range of $31.63to $55 and was recently at $53.91. It has a market cap of $88.3 billion and a 2.1 short interest ratio, it yields 1.4%, and it trades at a P/E of 24.8.
: Of 34 analysts covering the stock, 29 rate it a buy, four rate it a hold, and one rates it a sell. TheStreet Ratings has a B buy rating on Qualcomm, earning it a spot on the list of
top-4ated communications equipment stocks
: Qualcomm recently reported
expectations-beating adjustedearnings of 82 cents a share
, a 32% increase from the year-ago quarter and above expectations for 10 cents a share. Sales were also up, to $3.35 billion from $2.67 billion a year ago.
More on Qualcomm
: Qualcomm is one of
Goldman's eight top tech stocks for 2011
, and it showed up on a recent list of
20 stocks with large insider selling