NEW YORK (TheStreet) -- Qualcomm Inc. (QCOM), which is under investigation for possible monopolistic practices in China, said it had no direct financial links with an antitrust expert sacked from a government advisory post after state media reported he had received payments from the firm, Reuters reports.
The company has been under investigation since November by the National Development and Reform Commission, one of China's three antitrust regulators, over how the company licenses its patents and prices its chipsets, Reuters said.
Shares of Qualcomm are slightly higher in pre-market trade.
TheStreet Ratings team rates QUALCOMM INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUALCOMM INC (QCOM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, increase in stock price during the past year and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: