Qualcomm ( QCOM) pushed the Telecommunications industry lower today making it today's featured Telecommunications loser. The industry as a whole closed the day down 1.2%. By the end of trading, Qualcomm fell 69 cents (-1.1%) to $63.55 on light volume. Throughout the day, eight million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.6 million shares. The stock ranged in price between $63.46-$64.72 after having opened the day at $64.48 as compared to the previous trading day's close of $64.24. Other company's within the Telecommunications industry that declined today were: Novatel Wireless ( NVTL), down 24.9%, Nexxus Lighting ( NEXS), down 11%, DragonWave ( DRWI), down 8.8%, and magicJack VocalTec ( CALL), down 8.3%. QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. Qualcomm has a market cap of $109.1 billion and is part of the technology sector. The company has a P/E ratio of 22.3, above the average telecommunications industry P/E ratio of 19.2 and above the S&P 500 P/E ratio of 17.7. Shares are up 17.4% year to date as of the close of trading on Wednesday. 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, solid stock price performance, growth in earnings per share and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
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