Here's Why Qualcomm Shares Are Moving

Qualcomm Inc QCOM shares are trading higher by some 7.45% to $132.05 Monday afternoon after Barclays upgraded the stock from Equal-Weight to Overweight.

What Else?

Qualcomm shares are potentially trading higher in sympathy with major indices amid strength in tech stocks. Additionally, Barclays upgraded its ratings on multiple stocks in the broader semiconsuctor sector. Elliott Management reportedly took a multi-billion dollar stake in Salesforce, lifting market sentiment.

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According to data from Benzinga Pro, QCOM has a 52-week high of $192.10 and a 52-week low of $101.93.