Qualcomm Raises Bid For NXP, Could Scuttle Broadcom Takeover

NXP shares rose as much as 6.3% $126.39 in pre-market trading in New York. Qualcomm shares fell 2.9% to $62.83

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.8 out of the scale from 1 to 5, where 1 stands for Buy and 5 means Sell. The upped offer still remains below the $135 per share valuation pinned on the company by Elliott, but the hedge fund has nevertheless indicated that it will now support a buy-out.

NXP's shares were up 6.5 percent at $126.15 in premarket trading. About 22.50 million shares traded or 725.30% up from the average.

NXP Semiconductors NV (NASDAQ NXPI) opened at $118.50 on Tuesday. Stock has got OUTPERFORM rating from 5 analyst (s) whereas last month 7 analyst (s) have given outperform rating.

Vaughan Nelson Investment Management Lp increased its stake in Jack In The Box Inc (JACK) by 60.91% based on its latest 2017Q3 regulatory filing with the SEC. Monarch Capital Management Inc bought 13,743 shares as the company's stock declined 7.64% while stock markets rallied. Monarch Capital Management Inc who had been investing in General Electric for a number of months, seems to be bullish on the $128.30 billion market cap company. Valeo Financial Advisors LLC now owns 1,320 shares of the semiconductor provider's stock worth $155,000 after buying an additional 1,192 shares during the last quarter. About 438,622 shares traded. It has outperformed by 9.26% the S&P500. The Manikay Partners Llc holds 1.13M shares with $127.23 million value, up from 1.09 million last quarter. Therefore 100% are positive. The stock has "Hold" rating by Robert W. Baird on Thursday, October 26. The firm has "Mkt Perform" rating by FBR Capital given on Friday, July 29. The firm earned "Hold" rating on Monday, July 10 by Canaccord Genuity. Zacks Investment Research upgraded NXP Semiconductors from a "hold" rating to a "buy" rating and set a $131.00 target price on the stock in a research note on Tuesday, October 31st.

Qualcomm has extended its offer to NXP until March 5, 2018. The firm has "Buy" rating by Jefferies given on Wednesday, August 16. Jefferies maintained the shares of NXPI in report on Friday, April 29 with "Buy" rating.

Among 8 analysts covering Frontline Ltd. NXPI's profit will be $488.21 million for 21.80 P/E if the $1.44 EPS becomes a reality. After $0.93 actual earnings per share reported by Applied Materials, Inc. for the previous quarter, Wall Street now forecasts 4.30% EPS growth. According to today's trading volume NXP Semiconductors NV is ABOVE its 20-Day Avg. volume with the stock showing ABOVE Abnormal volume in the past 150 days. Salehpour Ali sold $6.44M worth of stock. 267.56 million shares or 0.84% less from 269.83 million shares in 2017Q2 were reported. CIBC Asset Management Inc boosted its holdings in NXP Semiconductors by 1.5% in the third quarter. Argus Research downgraded the shares of THRM in report on Friday, September 23 to "Hold" rating.

Investors sentiment decreased to 0.69 in 2017 Q3. Its up 0.18, from 1.22 in 2017Q2. That's crucial to Qualcomm's case that it's better off as an independent entity than selling to Broadcom for $82 a share.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Richard C Young Company Limited owns 270,189 shares for 1.24% of their portfolio. Nuveen Asset Mgmt Ltd Com owns 188,875 shares. State Treasurer State Of Michigan has invested 0.05% of its portfolio in Agilent Technologies, Inc. Oppenheimer maintained Jack in the Box Inc.

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