Stocks Moving After-Hours: QUALCOMM (NASDAQ:QCOM), Citrix Systems, Inc.(NASDAQ:CTXS)

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QUALCOMM (NASDAQ:QCOM) declined in Wednesday’s after-hours trade after beating Q2 expectations, setting mixed guidance, and disclosing an SEC probe.

QCOM touched a brief early evening high of 81.15 before dropping through the 79 mark to a late low of 76.25. A pre-market open Thursday may have potential near 77 to 76. The stock has recorded an after-hours decline in 18 of the last 40 quarters tracked over 10 years, reversing direction in follow-on regular session trade in 14 quarters (78% of the time).

Analysts have a consensus price target of $78.92 on QUALCOMM (NASDAQ:QCOM) which indicates a .50% upside. The consensus rating of the stock is a BUY with a score of 2.72. There are currently 9 Hold Ratings and 23 Buy ratings on the stock.

The most recent analyst action consisted of Canaccord Genuity boosting its price target from $86 to $90 on April 3rd.

Cloud network firm Citrix Systems, Inc.(NASDAQ:CTXS) beats with its fiscal Q1 results, issues mixed guidance, and bumps up its stock buyback, sending shares higher late Wednesday.

Citrix said Q1 non-GAAP net income was $119 million, or $0.64 per diluted share, compared to $117 million, or $0.62 per diluted share, a year earlier. That tops the consensus estimate in a Capital IQ survey for $0.58.

Revenue reached $750.8 million, up from $672.9 million a year earlier. The Street looked for $730 million.  For Q2, the company guides for non-GAAP EPS of $0.57 to $0.59 on revenue of $765 million to $775 million. The Street is at $0.67 on $783 million in revenue.

For the full year, the company guides for non-GAAP EPS of $2.90 to $2.95. The Street looks for $2.91. The company is targeting full-year revenue growth of 8.5% to 10%.  The company authorizes a $1.5 billion increase to its share repurchase program.

Citrix announced its intention to offer $1.25 billion principal amount of convertible senior notes due 2019 in a private offering to qualified institutional buyers. Citrix also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $187.5 million principal amount of the notes, solely to cover over-allotments.

Analysts have a consensus price target of $69.44 on Citrix Systems, Inc.(NASDAQ:CTXS) which indicates a 26% upside. The consensus rating of the stock is a BUY with a score of 2.52. There are currently 12 Hold Ratings, 19 Buy ratings and 2 Sell ratings on the stock.

The most recent analyst action consisted of Zacks reiterating their neutral rating and $58 price target on April 8th, 2014.

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