QUALCOMM announces FCC approval of sale of 700 MHz spectrum licenses to AT&T – NASDAQ:QCOM
QUALCOMM, Inc. NASDAQ:QCOM recently disclosed that company has got approval from the US Federal Communications Commission for the sale of its Lower 700 MHz D and E Block (Channel 55 and 56) unpaired US spectrum licenses to AT&T.
Company originally announced the sale to AT&T of the licenses for $1.925 billion in December, 2010. This enhanced technology is engineered to render significant capacity gains by enabling unpaired spectrum to be used in conjunction with paired spectrum for 4G services.
QCOM is basically a Communication Equipment industry company. The sales of company resulted $14.96 billion for last consecutive twelve months, and the company’s net income recorded $4.57 billion. The company’s growth of its sales (5-Year Annual Avg.) in recent quarter vs. year ago quarter recorded 14.72% which is above from Standard and Poor’s benchmark of 8.19%.
Company is on an optimistic track of growth as the pre-tax margin of QUALCOMM, Inc. NASDAQ:QCOM is 38.0% which is above the industry benchmark for pre-tax margin of 6.7% and above the Standard and Poor’s benchmark for pre-tax margin of 18.1%.
The stock price of company on December 28, 2011 increased 0.97% and settled to the closing price of $54.34. The overall volume in the last trading session was 7.06 million shares. Its fifty two week range was $45.98-$59.84. The total market capitalization remained $91.34 billion.
QCOM current stock price is moving above its 52 week low by 19.18% and moving above from 52 week high price by 8.08%. QCOM last month stock price volatility remained 2.41%. In its share capital QCOM has 1.68 billion outstanding shares while company’s float is 1.66 billion shares. Ownership of company is 81.88% institutional.
Qualcomm Incorporated NASDAQ:QCOM is a world leader in next-generation mobile technologies. For 25 years, Qualcomm ideas and inventions have driven the evolution of wireless communications, connecting people more closely to information, entertainment and each other. Today, Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere.