TEL - Qualcomm KLA Corp Texas Instruments fall as Morgan Stanley cuts PTs

Qualcomm (NASDAQ:QCOM), Kla Corp. (NASDAQ:KLAC), Texas Instruments (NASDAQ:TXN) and a number of other semiconductor companies saw their price targets cut at Morgan Stanley, ahead of earnings season, with the firm noting strength in analog and [semiconductor capital equipment] markets and weakness in vertical markets. A team of analysts, led by Joseph Moore, lowered the price targets on Sensata Technologies (ST) to $64 from $71, Te Connectivity (TEL) to $151 from $167 and Amphenol (APH) to $79 from $84. He also trimmed the targets on KLA Corp. (KLAC) to $375 from $400, Silicon Laboraotires (SLAB) to $156 from $208, Texas Instruments (TXN) to $181 from $198 and Qualcomm (QCOM) to $167 from $223. Qualcomm (QCOM) shares fell more than 1% to $131.25, while KLA Corp. (KLAC) fell more than 1.5% to $319 in premarket trading on Monday. Texas Instruments (TXN) shares fell nearly 1% to $171.64 in premarket trading. Scheduled to report Tuesday after the market

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Qualcomm, KLA Corp, Texas Instruments fall as Morgan Stanley cuts PTs