Analysts at Wells Fargo on Monday issued some positive commentary on wireless microchip maker Qualcomm, Inc. ( QCOM ).
The firm said it placed QCOM on its "Priority Stock" List with an "Outperform" rating. Wells Fargo noted that new products from the company should continue to drive organic growth.
Qualcomm shares, which have grown about 4.8% year-to-date, rose $1.64, or +3.2%, in premarket trading Monday.
The Bottom Line
Shares of Qualcomm ( QCOM ) have a 1.66% dividend yield, based on Friday's closing stock price of $51.86, The stock has technical support in the $48 price area. If the shares can firm up, we see overhead resistance around the $54-$55 price levels.
Qualcomm, Inc. ( QCOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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