Qualcomm Inc. (NASDAQ: QCOM) Stock Rating Reiterated at Morgan Stanley

Morgan Stanley analysts reiterated its Overweight rating on Qualcomm Inc. (NASDAQ: QCOM) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Overweight on the shares. The one-year price target of $62.52 is a decrease compared to the opening price of $63.27, causing a number of other analysts to report on the stock recently. Looking back over the last year, Qualcomm Inc. stock has a high of $63.70. Stock prices sometimes get a jump to the upside when analysts reiterate coverage.

U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.

The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.

The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.

The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range

Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.

Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range

Yesterday Qualcomm Inc. (NASDAQ: QCOM) shares last traded at $62.93, a jump of $0.07 compared to the previous closing price. Opening at $63.27, they varied from $62.85 and $63.30 throughout the day.

Qualcomm Inc. (NASDAQ: QCOM) now has a market cap of 92.73B.

779,322 shares crossed the trading desk yesterday, 117 percent lower than normal, out of a total float 1,471,393,000. Trading volume is likely to increase in the next few days as investors often use increases in trading volume to determine substantial volume aggregation or distribution by institutional investors.

While an increase in trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have substantial teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you’re considering.

Traders are able to make make more impactful decisions on trades when they follow the activity of professional investors.

With that in mind, Qualcomm Inc. (NASDAQ: QCOM) now has a 50-day MA of $62.28 and 200-day MA of $55.57. It has traded in a 52-week range between $42.24 – 63.700 and today’s last price is 0.01% lower than the 52 week high of $63.70.

Earnings growth is a critical factor to research when buying stocks and investors identify companies that have grown their earnings at least 25% or more over 3 consecutive years.

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