NEW YORK (TheStreet) -- Shares of Qualcomm (QCOM) - Get Report are down by 0.95% to $55.21 on Friday afternoon, as the company sold its entire stake in Japanese consumer manufacturing company Sharp (SHCAY), according to Nikkei Asian Review.

The San Diego-based semiconductor company had an equity stake of 2.48% in Sharp at the end of March 2015, when it was the third biggest shareholder.

In 2012, the two companies announced a capital and business agreement for the joint development of next-generation liquid crystal display panels, Nikkei said.

The decision to sell is because Qualcomm established clear plans for the development of new LCD panels, analysts noted.

The sales comes as Sharp released a notice yesterday for the convocation of an annual shareholder meeting, Nikkei added.

(Qualcomm is held in the Dividend Stock Advisor portfolio. See all of the holdings with a free trial.)

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on Qualcomm stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins.

However, the team also finds weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: QCOM

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