|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||118.79 - 119.47|
|52 Week Range||96.00 - 119.90|
|PE Ratio (TTM)||21.15|
|Earnings Date||Jan 30, 2018 - Feb 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||112.67|
Qualcomm is getting positive reviews for its business strategy as it defends itself from a hostile takeover by Broadcom.
Qualcomm’s (QCOM) show of defiance yesterday in the face of Broadcom’s (AVGO) hostile bid for the company is not necessarily winning hearts and minds, but it’s nudging some price targets higher. Qualcomm shares today are down 27 cents, or half a percent, at $67.98. The stock took a dip after a report this afternoon by The Wall Street Journal stating Broadcom is being investigated by the U.S. Federal Trade Commission for potentially uncompetitive practices in its contract terms with chip customers.
Raised 2019 targets for profits and revenues, cost cutting, and share buyback as a backup plan -- if NXP Semiconductor buyout fails -- support Qualcomm's (QCOM) price rally.
It was the first time Qualcomm raised the buyback as an alternative to buying NXP, as the deal faces strong opposition from NXP shareholders. "With tax reform, we are well positioned to complete a large stock buyback that will deliver essentially the same level of accretion to Qualcomm stockholders as if we had closed NXP," Qualcomm Chief Financial Officer George Davis said in a webcast. This has prompted companies such as Qualcomm to think about tapping overseas cash in new ways.
CEO Steve Mollenkopf and other Qualcomm executives attacked Broadcom's hostile offer as sheer opportunism that undervalues the company. Qualcomm's bid for NXP has its own detractors, as Ramius Advisors ...
Shares of Qualcomm (QCOM) gained steadily throughout Tuesday’s session, ending the day up $2.87, or 4.4%, at $68.25, after the company tried to beat back a hostile acquisition effort by Broadcom (AVGO), pleading to cut costs by a billion dollars and talking about how it is dedicated to “shareholder value,” and after Broadcom responded by blaming Qualcomm management for failing to deliver on past promises. KeyBanc’s Michael McConnell, who has Overweight ratings on both stocks, notes that Qualcomm is saying it will not try to buy NXP Semiconductors (NXPI) “at all costs.” Instead, should that deal fall through—though Qualcomm thinks that unlikely—it is prepared to buy back enough of its own stock to equal the cost “synergies” it would have enjoyed by buying NXP, observes McConnell.
Shares of Qualcomm (QCOM) are up $1.59, or 2.4%, at $66.97, after the company this morning made a series of announcements to beat back Broadcom's (AVGO) hostile bid. The company has posted a video from CEO Steve Mollenkopf and his executives on its Web site, urging them to reject a slate of directors Broadcom has proposed to replace Qualcomm’s board. Interestingly, this morning, just before the announcement was made, Instinet's Romit Shah raised his rating on the shares this morning to Buy from Neutral, and raises his price target to $75 from $58, after concluding that the company’s hostile takeover bid from Broadcom is a “gun to the head” for management that is making Qualcomm mangenement be “more aggressively focused” on shareholder value.
Qualcomm Inc on Tuesday gave a lofty revenue, profit outlook for 2019 as the U.S. chipmaker looks to win over shareholder support to reject the hostile bid from Broadcom Ltd. Qualcomm forecast adjusted per share profit to be between $6.75 and $7.50 on a revenue of $35 billion to $37 billion in 2019. The company plans to achieve the profit target through a new $1 billion cost reduction plan, gains from the NXP Semiconductors NV deal and by resolving current licensing disputes, especially with Apple Inc.
The European Union has dragged out its review of Qualcomm's $110-per-share bid for NXP, but Elliott Management and other shareholders are even bigger sticklers.
NXP Semiconductors NV shareholder Ramius Advisors LLC said on Tuesday it would reject chipmaker Qualcomm Inc's $38 billion bid for the company, joining activist investor Elliott Management Corp. Ramius, ...
Both groups achieve initial success in network function virtualization SHANGHAI, China, Jan. 16, 2018 (GLOBE NEWSWIRE) -- NXP Semiconductors(TM) N.V. (NASDAQ:NXPI), a worldwide leader in advanced secure ...
SHANGHAI, China, Jan. 16, 2018-- NXP Semiconductors™ N.V., a worldwide leader in advanced secure connectivity solutions, today announced that its virtual customer premises equipment solution has successfully ...
SAN DIEGO, Jan. 12, 2018 /PRNewswire/ -- Qualcomm Incorporated (QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.
The adage of “may you live in interesting times” holds true for Qualcomm, Inc. (NASDAQ:QCOM) stock. As it stands now, telling whether Qualcomm is the hunter or the hunted remains difficult. The company continues to work on closing a deal to acquire NXP Semiconductors NV (NASDAQ:NXPI), but that might not be enough for QCOM stock to be a winner.
Qualcomm is set to clinch conditional European Union antitrust approval for its acquisition of NXP Semiconductors as soon as next week, according to people familiar with the matter, as the company fends ...
The market for electric vehicles is expected to grow to 53 million units by 2030, up from 3.4 million units in 2017.