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Fly News Breaks for December 10, 2019
MRVL, NXPI
Dec 10, 2019 | 08:08 EDT
BofA/Merrill analyst Vivek Arya raised his estimates for NXP Semiconductors (NXPI) after the company completed the acquisition of Marvell's (MRVL) WiFi assets, noting that the deal is accretive to both sales and EPS and also adds complementary WiFi/Bluetooth technologies that will enable NXP to sell a complete solution to customers. The analyst, who also noted that NXP will resume buybacks starting in calendar Q1 with the deal closed, raised his price target on NXP shares to $145 from $140 and keeps a Buy rating on the stock.
News For NXPI;MRVL From the Last 2 Days
