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AVGO

Broadcom

$252.95

-0.76 (-0.30%)

, QCOM

Qualcomm

$66.98

3.66 (5.78%)

06:27
02/27/18
02/27
06:27
02/27/18
06:27

CFIUS starts to review Broadcom's Qualcomm bid, Reuters reports

The Committee on Foreign Investment in the U.S. has started to review the proposed merger between Broadcom (AVGO) and Qualcomm (QCOM) and met with at least one of the companies last month, Reuters reports, citing three sources familiar with the matter. The move by CFIUS signals that Broadcom's plans to move headquarters to the U.S. prior to the potential takeover may not be enough to avoid a national security review that could threaten the deal. Reference Link

AVGO

Broadcom

$252.95

-0.76 (-0.30%)

QCOM

Qualcomm

$66.98

3.66 (5.78%)

  • 15

    Mar

AVGO Broadcom
$252.95

-0.76 (-0.30%)

02/20/18
STFL
02/20/18
NO CHANGE
Target $82
STFL
Hold
Qualcomm could return to $55-$60 range if Broadcom withdraws, says Stifel
After Qualcomm (QCOM) announced an agreement to increase its acquisition offer to NXP Semiconductors (NXPI) to $127.50 from $110 per share, Stifel analyst Kevin Cassidy said he believes this was done in an effort to expedite shareholder approval as Qualcomm management fends off Broadcom's (AVGO) attempted takeover. Broadcom previously stated that its $82 per share offer was effective if the NXP deal was terminated or completed at the previous price, noted Cassidy, who expects Qualcomm shares could return to the $55-$60 range if Broadcom withdraws. He keeps a Hold rating and $82 price target on Qualcomm shares based on Broadcom's acquisition offer.
02/21/18
SUSQ
02/21/18
NO CHANGE
Target $78
SUSQ
Positive
Raised NXP bid bad for Qualcomm shareholders, says Susquehanna
Susquehanna analyst Christopher Roland said the raised bid for NXP Semiconductor (NXPI) by Qualcomm (QCOM) is bad for Qualcomm shareholders as it lowers the chances that the company is ultimately acquired by Broadcom (AVGO). Roland maintained his Positive rating and $78 price target on Qualcomm shares in a note issued prior to Broadcom's announcement that it has lowered its takeover offer for Qualcomm to $79 per share.
02/21/18
STFL
02/21/18
NO CHANGE
Target $68
STFL
Hold
Stifel sees Broadcom acquisition as unlikely, cuts Qualcomm target to $68
Stifel analyst Kevin Cassidy said earlier that Broadcom's (AVGO) lower offer of $79 per share may concern Qualcomm (QCOM) shareholders and motivate a vote for Broadcom board nominees. He now views the Broadcom acquisition as unlikely given the lower offer and cut his price target on Qualcomm shares to $68 from $82. Cassidy, who added that his "unscientific conversations" with Qualcomm shareholders reveal they are not convinced the company can earn $6.75-$7.50 per share in FY19, keeps a Hold rating on Qualcomm shares.
02/22/18
RBCM
02/22/18
NO CHANGE
Target $325
RBCM
Top Pick
RBC finds takeover targets for Broadcom should Qualcomm deal fail
RBC Capital analyst Amit Daryanani finds it prudent to think about other takeover options for Broadcom (AVGO) should its attempt to acquire Qualcomm (QCOM) fail. Broadcom is in a "unique position" as it generates $9B-$10B of free cash flow annually, has balance sheet that is "almost net debt neutral" and a management team "that has impeccable history in integrating assets," Daryanani tells investors in a research note titled "If not QCOM, Who Is Next?" The analyst sees potential targets in Xilinx (XLNX), Analog Devices (ADI), Maxim Integrated (MXIM), Marvell Technology (MRVL) and Microsemi (MSCC). Daryanani keeps a Top Pick rating on Broadcom with a $325 price target. He believes the company has the ability to sustain double-digit growth with or without Qualcomm.
QCOM Qualcomm
$66.98

3.66 (5.78%)

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TEF

Telefonica

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Downgrade
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SPY

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CZWI

Citizens Community Bancorp

$14.15

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PKD

Parker Drilling

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RSLS

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$1.47

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BOX

Box

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ALDX

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LECO

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KMX

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VIX

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DIS

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