57.70 -0.01 (-0.02%)
After hours: 5:09PM EDT
|Bid||57.70 x 1800|
|Ask||57.71 x 1000|
|Day's Range||56.77 - 58.27|
|52 Week Range||48.56 - 69.28|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.48 (4.51%)|
|1y Target Est||N/A|
Qualcomm (QCOM) and NXP Semiconductors (NXPI), which have been on a downtrend since March 2018, saw an upsurge last week when the US and China (FXI) made efforts to ease the trade tensions between them. QCOM and NXP stocks have been on a downtrend since March 2018 when Broadcom’s (AVGO) hostile takeover of Qualcomm was rejected by the US president. Adding to Qualcomm’s trouble, the US president announced tariffs on Chinese imports on March 22 and imposed a sales ban on Chinese telecommunications equipment and systems manufacturer ZTE for violating sanctions on Iran on April 16.
President Trump touted a U.S. trade truce with China Monday. Dow stocks Boeing, Caterpillar and 3M, along with NXP Semiconductors, Qualcomm and Deere, should benefit from easing tensions.
After each financial quarter, investors eagerly await the arrival of 13F filings from the largest hedge funds and institutional investors in the U.S. Required by the SEC, these filings reveal a portion of the investment moves made by hedge funds overseeing at least $100 million in assets under management for each quarter. Following these major purchases, he also bought up about 411,000 of Qualcomm Inc. ( QCOM).
The agreement will have Qualcomm adding Facebook’s Terragraph technology to its chipsets. The goal of Facebook and Qualcomm’s new internet effort is to create high-speed wireless internet for users. “Our collaboration with Facebook will bring advanced 11ad and pre-11ay technologies to market increasing broadband penetration and enabling operators to reduce their capex for last mile access,” Irvind Ghai, Vice President of Product Management at Qualcomm Atheros, said in a statement.
Mnuchin is a friend of the chips. Chips stocks were rising Monday morning on news that United States and China have reached a tentative deal to cut trade deficits, with the U.S. holding off on implementing tariffs on Chinese goods. Treasury Secretary Steve Mnuchin told "Fox News Sunday" on May 20 that the U.S. is putting China tariffs "on hold" as the two countries reach a tentative deal to cut trade deficits.
Among the S&P 500, Skyworks Solutions, Qualcomm, Qorvo, Broadcom and Micron have the highest percentage of revenue generated from China, according to FactSet. Shares of the chipmakers rose in Monday morning trading. Over the weekend, the U.S. and China agreed to "substantially reduce" the U.S. trade deficit in goods with China and work toward "meaningful increases" in American agriculture and energy exports.
Among the companies with shares expected to trade actively in Monday's session are General Electric, Qualcomm, Starbucks, United Technologies, Tesla and Snap.
Each day, the Benzinga Pro news team highlights several stocks with Trading Idea potential. Be the first to see them by becoming a Benzinga Pro user ! Fibrocell Science Inc (NASDAQ: FCSC ) stock gained ...
The loud spat between US Treasury secretary Steven Mnuchin and White House trade adviser Peter Navarro during a visit to Beijing this month is a dramatic illustration of a fundamental problem the US faces when negotiating with China — the Americans’ two principal goals are mutually contradictory. Washington announced progress this past weekend towards each of its two big asks of Beijing: a better investment regime for foreign corporations in China and a lower trade deficit.
The semiconductor industry in the U.S. has been in the news lately, as multiple events across the spectrum drive stocks in the sector. The highlight of last week was the improving state of talks between U.S. and China, as President Trump tweeted that he might remove the ban on the supply of U.S. tech to Chinese telecom gear maker ZTE. Following this, Chinese regulators restarted their review of Qualcomm’s (NASDAQ: QCOM) application to acquire Dutch firm NXP (NASDAQ: NXPI), which they previously regarded as damaging for their domestic tech firms.
Like almost anything under President Trump’s administration, nothing is ever clear or straightforward. Case in point is the latest back-and-forth involving ZTE, a multinational telecommunications company headquartered in Shenzhen, China. Last month, President Trump made headlines when his administration announced a ban on U.S. exports to ZTE.
A peek inside ZTE Corp.’s flagship smartphone reveals how badly the Chinese telecom giant needs a deal to lift a U.S. ban on shipments of phone parts to the company. Other key components come from SanDisk Inc., a flash-memory supplier based in Milpitas, Calif., and Skyworks Solutions Inc., a Woburn, Mass., chip maker, ABI said. The U.S. penalized ZTE for its violation of a 2017 settlement resolving a probe into its evasion of American sanctions on Iran.
At least this rumor involves quotes from an actual government official, but that final approval from Beijing is still hovering just out of reach.
Graphics-chip makers Advanced Micro Devices and Nvidia received fresh buy ratings on Friday, as investment bank Cowen initiated coverage of a host of semiconductor stocks.
NXP Semiconductors NV climbed after a report that regulators in China are looking more favorably upon the chipmaker’s proposed acquisition by Qualcomm Inc. The Wall Street Journal quoted an unidentified Beijing official as saying the deal’s approval is "looking more optimistic now." NXP shares rose as much as 5.9 percent, the biggest gain since Monday. Representatives for Qualcomm and NXP declined to comment on Friday.
Shares of NXP were up 5.5 percent at $112.52 and Qualcomm was up 1.6 percent at $57.86 in late morning trade. The deal has been approved by eight of the nine required global regulators, with only the Chinese Ministry of Commerce (MofCom) continually stalling the takeover amid U.S.-China trade tensions. Qualcomm and NXP declined to comment, while MofCom did not immediately respond to a request for comment.
Qualcomm Inc's $44 billion deal to buy Dutch chipmaker NXP Semiconductors NV is looking "more optimistic now", the Wall Street Journal quoted a Beijing official as saying. Shares of NXP were ...
The proposed merger has been waiting for months on regulatory approval out of China — the ninth and final region to weigh the deal. Qualcomm CEO Steve Mollenkopf told CNBC in April that broader trade tensions between the two tech-heavy countries were stalling the deal. The proposed merger has been waiting for months on regulatory approval out of China.
Qualcomm (QCOM) is getting closer to nabbing NXP Semiconductors (NXPI), a deal it’s been trying to close for over a year, according to a note to clients today by RBC Capital’s Amit Daryanani. You’ll recall Qualcomm was forced last month to refile its application to China’s MOFCOM, the last regulator in the world that has still not blessed the $47 billion acquisition. Media reported on Monday China has re-opened its review of the deal, after what seemed to be U.S. President Donald Trump seeking concessions from China his hard-line stance on tariffs and trade.
Toshiba Corp said on Thursday that China regulators have approved the $18 billion sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital, marking the end to a year-long saga surrounding its most prized asset. The antimonopoly review had been the last and biggest hurdle to a successful sale of Toshiba Memory, the world's No. 2 producer of NAND chips. The Bain consortium last year won a long and highly contentious battle for the business, which Toshiba put up for sale after billions of dollars in cost overruns at its Westinghouse nuclear unit plunged it into crisis.Any approval of the deal would come at a time of trade tension between China and United States which has fanned fears Beijing would delay reviews of major global chip deals.
There are varying views on timing, but no one in the technology field doubts that the coming wave of IoT (internet of things) products will bring about a big shift in how we interact with tech. IoT products will provide consumers with new ways to access and process information, while also supplying a significant addressable market for the hardware and software companies that get it right. Intel (INTC) is not known as a company poised to take on IoT at the edge, where consumer devices will exist.
Toshiba Corp said on Thursday that China regulators have approved the $18 billion (13.3 billion pounds) sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital, marking the end to a year-long saga surrounding its most prized asset. The antimonopoly review had been the last and biggest hurdle to a successful sale of Toshiba Memory, the world's No. 2 producer of NAND chips. The Bain consortium last year won a long and highly contentious battle for the business, which Toshiba put up for sale after billions of dollars in cost overruns at its Westinghouse nuclear unit plunged it into crisis.Any approval of the deal would come at a time of trade tension between China and United States which has fanned fears Beijing would delay reviews of major global chip deals.
Qualcomm’s deal to purchase NXP Semiconductors has been caught in the crosshairs of the trade tensions between the U.S. and China, with the Chinese government holding up regulatory approval of the $44 billion deal. View our interactive dashboard analysis on Qualcomm’s expected performance over 2018 to see our forecasts and valuation estimate. While the competitive aspects of the deal, which are expected to give Qualcomm a significant edge in the automotive semiconductor space, are likely to be a concern, a key reason for the delay in approvals is likely the trade tensions between the U.S. and China and the U.S. export ban placed on Chinese telecom equipment behemoth ZTE amid alleged violations of Iran sanctions.