Canaccord Genuity Morning Cofee on NXP Semiconductors (NXPI): Not The Potato Variety
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Price: $235.13 +0.04%
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity Morning Cofee on NXP Semiconductors (Nasdaq: NXPI): Not the potato variety.
Canaccord analyst says, "Dutch chip maker NXP Semiconductors is in takeover talks with Intel (Nasdaq: INTC), Qualcomm (Nasdaq: QCOM) and Broadcom (Nasdaq: BRCM), a Dutch newspaper reported on Friday, citing an anonymous banker. “The signals about an approach are now serious and are too strong to ignore,” said the banker, who was not identified by name or company. NXP is not a stranger to takeover talks: in 2008, NXP and German rival Infineon (IFXG), which has sold its wireless operations to Intel, were rumoured to be exploring a merger, but failed to reach any sort of agreement. Then, in November of 2010, NXP’s chief executive told Reuters he had ruled out any consolidation in the semiconductor industry in the mid-term, because major players are focused on organic growth as they emerge from the global recession. Interestingly, NXP has only been public for a short while, after private equity-backers had an IPO for the company last August. Shares have almost tripled from its lows seen at the end of last summer after its IPO."
Canaccord analyst says, "Dutch chip maker NXP Semiconductors is in takeover talks with Intel (Nasdaq: INTC), Qualcomm (Nasdaq: QCOM) and Broadcom (Nasdaq: BRCM), a Dutch newspaper reported on Friday, citing an anonymous banker. “The signals about an approach are now serious and are too strong to ignore,” said the banker, who was not identified by name or company. NXP is not a stranger to takeover talks: in 2008, NXP and German rival Infineon (IFXG), which has sold its wireless operations to Intel, were rumoured to be exploring a merger, but failed to reach any sort of agreement. Then, in November of 2010, NXP’s chief executive told Reuters he had ruled out any consolidation in the semiconductor industry in the mid-term, because major players are focused on organic growth as they emerge from the global recession. Interestingly, NXP has only been public for a short while, after private equity-backers had an IPO for the company last August. Shares have almost tripled from its lows seen at the end of last summer after its IPO."
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