Qualcomm (QCOM) pushed the Telecommunications industry higher today making it today's featured telecommunications winner. The industry as a whole closed the day up 0.5%. By the end of trading, Qualcomm rose $1.33 (2.4%) to $57.18 on average volume. Throughout the day, 11.5 million shares of Qualcomm exchanged hands as compared to its average daily volume of 13.4 million shares. The stock ranged in a price between $55.45-$57.30 after having opened the day at $55.54 as compared to the previous trading day's close of $55.85. Other companies within the Telecommunications industry that increased today were: RRSat Global Communications Network (RRST), up 11.3%, Alaska Communications Systems Group (ALSK), up 11.2%, Plantronics (PLT), up 6.9%, and Motricity (MOTR), up 6.8%. QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. Qualcomm has a market cap of $94.49 billion and is part of the technology sector. The company has a P/E ratio of 19.3, above the average telecommunications industry P/E ratio of 16.6 and above the S&P 500 P/E ratio of 17.7. Shares are up 2.1% year to date as of the close of trading on Monday. Currently there are 31 analysts that rate Qualcomm a buy, one analyst rates it a sell, and none rate it a hold. TheStreet Ratings rates Qualcomm as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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