Qualcomm's chipmaking and patent licensing units look better together than as separate companies, Morningstar senior analyst Brian Colello said Wednesday, despite a call by an activist hedge fund that Qualcomm should consider shaking things up.
"We think there is more chip growth to be had even with recent market share losses and concerns," Colello told CNBC.
With Qualcomm share prices down 6 percent this year, Jana Partners' founder told CNBC on Monday that the tech company needs to review the units to decide whether they should be spun off.
"What we think they ought to do is just a transparent review of the client businesses, and determine whether or not it makes sense to do either a partial or full split. So we are not definitely saying that they should split it up," hedge fund Barry Rosenstein said.