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Equities research analysts at Morgan Stanley began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research note issued to investors on Wednesday. The firm set an “equal weight” rating on the stock.

QUALCOMM (NASDAQ:QCOM) opened at 79.16 on Wednesday. QUALCOMM has a one year low of $59.02 and a one year high of $81.66. The stock’s 50-day moving average is $79.65 and its 200-day moving average is $76.6. The company has a market cap of $133.6 billion and a P/E ratio of 19.86.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.09. The company had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $5.18 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on QCOM. Analysts at RBC Capital raised their price target on shares of QUALCOMM from $85.00 to $90.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, June 12th. They now have a $95.00 price target on the stock, up previously from $90.00. Finally, analysts at Nomura raised their price target on shares of QUALCOMM from $85.00 to $90.00 in a research note on Wednesday, June 11th. They now have a “buy” rating on the stock. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Buy” and a consensus price target of $80.53.

QUALCOMM Incorporated (NASDAQ:QCOM) is engaged in designing and manufacturing of digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.

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