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Technology Stocks : Semiconductor Fundamentals

SMH 366.10

+0.8%

Nov 3 4:00 PM EST

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To: cordob who started this subject	2/12/2003 11:13:43 AM
From: cordob	of 82

Qualcomm: putting its money where its mouth is Instigating dividend and stock buy back. see dai.multexinvestor.com (you may need to register, but it's free) snip Wireless technology giant Qualcomm's stratospheric stock run-up four years ago now looks like a textbook example of investors' over-enthusiasm in the tech sector, as you can see by clicking here. Things are different now, and Tuesday it was QCOM's management that did the enthusing. The company announced that it would buy back up to $1 billion of its own stock over two years and also that it plans to initiate a 5-cent-per-share quarterly dividend distribution in March. Now investors have a new reason to consider the merits of the stock. Buyback announcements are generally viewed very favorably by the market, since they tend to demonstrate management confidence in forward business prospects and a belief that there is value in company stock. Buybacks also help to increase earnings per share, by decreasing the number of shares outstanding. And while QCOM's annualized dividend yield will only be half-a-percent to start, the simple fact that the company's balance sheet and cash flows are strong enough to initiate a payment, given the sector in which it operates and overall economic conditions, says volumes about its business. .....(more)..... Cheers Cor

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