Wireless chip and technology supplier Qualcomm Inc on Wednesday set a quarterly and

annual revenue target that missed Wall Street estimates, but its shares rose slightly in late trade after falling more than 9 percent in recent weeks.

Qualcomm forecast full-year revenue of $10.5 billion to $11.3 billion, below Wall Street expectations for revenue of $11.61 billion, according to Thomson Reuters I/B/E/S.

Its net profit fell to $803 million, or 48 cents per share for the fiscal fourth quarter ended September 27, from $878 million, or 52 cents per share in the year-ago quarter.

Revenue fell to $2.69 billion in the fourth quarter from $3.34 billion a year ago, when it reported a $560 million payment from Nokia from a legal settlement. Wall Street had expected revenue of $2.72 billion, according to Thomson Reuters I/B/E/S.

Qualcomm's shares had closed at $41.60 on Nasdaq. Qualcomm shares had already fallen more than 9 percent since late September on concerns about its outlook.

(Reporting by Sinead Carew; editing by Carol Bishopric)

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