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QCOM

Qualcomm

$68.50

1.05 (1.56%)

, NXPI

NXP Semiconductors

$102.01

5.89 (6.13%)

09:21
10/03/16
10/03
09:21
10/03/16
09:21

RBC says $120-130/share seems like high end of reasonable Qualcomm price for NXP

RBC analyst Amit Daryanani believes $120-$130 per share is likely the "upper end of the valuation framework" that Qualcomm (QCOM) would like to pay in any potential deal to acquire NXP Semiconductors (NXPI). While Qualcomm "can certainly elect to pay a larger premium" than that, doing so would likely come in the form of Qualcomm equity issuance, which would impede the accretion from the deal, Daryanani tells investors. The analyst keeps a Sector Perform rating on Qualcomm shares, but raised his price target on the stock to $70 from $59 citing the potential for diversification and higher cash flow generation that an NXP deal would provide.

QCOM

Qualcomm

$68.50

1.05 (1.56%)

NXPI

NXP Semiconductors

$102.01

5.89 (6.13%)

QCOM Qualcomm
$68.50

1.05 (1.56%)

09/30/16
RHCO
09/30/16
NO CHANGE
RHCO
NXP Semiconductors could be acquired for $124 per share, says SunTrust
After Dow Jones reported that NXP (NXPI) is in talks to be bought by Qualcomm (QCOM) for more than $95 per share, SunTrust analyst William Stein says that, based on recent takeover valuations in the semiconductor space, NXP would be acquired for $124 per share. The analyst says that NXP is worth $104 per share on a standalone basis, and he does not expect the company to sell itself for $95. Stein adds that NXP would improve Qualcomm's efforts in NFC and automotive. He expects NXP's stock to rise whether or not a deal is made, and he keeps a Buy rating on the shares.
09/30/16
09/30/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded on potential NXP Semiconductors acquisition at Mizuho with the firm's analyst saying he believes a Qualcomm acquisition of NXP Semiconductors (NXPI) makes significant strategic and financial sense. 2. Skechers (SKX) upgraded to Positive from Neutral at Susquehanna. 3. Sprouts Farmers Markets (SFM) upgraded to Buy from Hold at Jefferies with analyst Christopher Mandeville saying the risk/reward is now favorable following the recent pullback in the shares. 4. Phillips 66 (PSX) upgraded to Neutral from Sell at Goldman with analyst Neil Mehta citing higher multiple assumptions for midstream and chemicals segments, reduced capex spending and higher free cash flow estimates, and more achievable consensus expectations. 5. NetApp (NTAP) upgraded to Buy from Sell at Summit Redstone with analyst Srini Nandury citing optimism that the company can grow its product revenue from current levels driven by AFA sales and increasing adoption of clustered ONTAP. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
OPCO
09/30/16
NO CHANGE
OPCO
NXP 'cheap' for Qualcomm even after rally, says Oppenheimer
Oppenheimer analyst Rick Schafer says NXP Semiconductors (NXPI) still a "cheap" takeover target for Qualcomm (QCOM) even after rallying 25% over the past two days. An acquisition would be accretive to Qualcomm's earnings "under most scenarios," the analyst tells investors in an intraday research note. He thinks Qualcomm needs to diversify away from handsets and has $31B of offshore cash, the analyst contends. Schafer keeps a Perform rating on Qualcomm.
10/03/16
UBSW
10/03/16
NO CHANGE
Target $59
UBSW
Neutral
Qualcomm acquisition of NXP Semiconductors would be positive, says UBS
UBS analyst Stephen Chin said he would view an acquisition of NXP Semiconductors (NXPI) by Qualcomm (QCOM) as positive citing such a deals likely accretion, as well as benefits like sales diversification, its patent portfolio and cash flow generation. Chin maintains his Neutral rating and $59 price target on Qualcomm shares.
NXPI NXP Semiconductors
$102.01

5.89 (6.13%)

09/30/16
MZHO
09/30/16
UPGRADE
MZHO
Buy
Qualcomm upgraded on potential NXP Semiconductors acquisition at Mizuho
As previously reported, Mizuho upgraded Qualcomm (QCOM) to Buy from Neutral. The firm's analyst believes a Qualcomm (QCOM) acquisition of NXP Semiconductors (NXPI) makes significant strategic and financial sense. Qualcomm dominates automotive telematics and the firm believes the potential acquisition of NXP Semiconductors will give it incockpit market share, powertrain, safety, and an automotive processor portfolio from Freescale that creates the first end-to-end semiconductor auto supplier of the future.

TODAY'S FREE FLY STORIES

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AVGO

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PVG

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CBS

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VIAB

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JBHT

J.B. Hunt

$120.64

-0.42 (-0.35%)

14:35
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Technical Earnings Preview: J.B. Hunt near life highs before earnings »

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XRX

Xerox

$31.91

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Deason reports 6% stake in Xerox, demands disclosure of JV pact with Fujifilm »

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Treasury Action: yields held near highs »

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EXAS

Exact Sciences

$52.95

0.33 (0.63%)

, VNRX

VolitionRx

$2.95

0.0441 (1.52%)

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Analysts stay bullish on Exact Sciences after ASCO abstract prompts pullback »

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EXAS

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VNRX

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AG

First Majestic

$7.36

0.0106 (0.14%)

14:30
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Far upside call buyers in First Magestic as shares trade flat »

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VNO

Vornado

$71.16

-0.05 (-0.07%)

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ALX

Alexander's

$379.05

-3.045 (-0.80%)

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Alexander's boosts quarterly dividend to $4.50 per share »

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JNJ

Johnson & Johnson

$147.07

0.21 (0.14%)

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USPTO board says Janssen Oncology patent claims unpatentable »

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LOCO

El Pollo Loco

$10.10

-0.2 (-1.94%)

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$NSD

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$NYE

NYSE Market Internals

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CRSP

Crispr Therapeutics

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MS

Morgan Stanley

$54.72

0.12 (0.22%)

14:12
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Technical Earnings Preview: Morgan Stanley near 52-week high before news »

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  • 18

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INTC

Intel

$43.14

-0.1 (-0.23%)

14:10
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Large block of puts in Intel as shares advance »

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WRB

W. R. Berkley

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0.7 (1.01%)

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  • 30

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ONTX

Onconova

$1.74

-0.0901 (-4.92%)

14:05
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Downgrade
Onconova rating change  »

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  • 17

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CY

Cypress Semiconductor

$16.90

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Cypress Semiconductor call volume above normal and directionally bullish »

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