ARM Holdings (NASDAQ:ARMH): Second-quarter earnings per share of 5 pence fell in line with expectations as adjusted pretax profit grew 30 percent for a total of 86.6 million pounds. Revenues also grew by a healthy 26 percent to 171.2 million pounds against the consensus of 165.1 million pounds. The company has lifted its interim dividend by 26 percent and now stands at 2.1 pence per share.
Qualcomm Corp. (NASDAQ:QCOM): EPS of $1.03 fell in line with projections, while revenue of $6.24 billion — a 35 percent increase year-over-year — beat by $190 million. The company expects fourth-quarter revenue of $5.9 billion to $6.6 billion, and EPS of $1.02 to $1.10 versus the consensus of $6.29 billion and $1.08. Qualcomm has also declared a 35 cents per share quarterly dividend, with a forward yield of 2.25 percent for shareholders of record on September 4. It is payable on September 25 with an ex-dividend date of August 30.
Broadcom (NASDAQ:BRCM): Citigroup downgraded Broadcom to Neutral from Buy, citing decelerating smartphone industry growth and increasing connectivity competition following the company’s second-quarter results. The firm also lowered its price target for shares to $34 from $41. Broadcom took a beating from analysts on Wednesday, racking up downgrades that pushed its shares down 15 percent during trading.