Paul Singer is poised to profit on Qualcomm's NXP offer

Laverne Mann
February 23, 2018

In morning trading, NXP shares rose 6.3 percent to $125.91. Its down 1.1% from 4.99M shares previously. NXP Semiconductors comprises 0.9% of Alexandria Capital LLC's investment portfolio, making the stock its 29th biggest holding. It also upped Medtronic Plc (NYSE:MDT) stake by 53,611 shares and now owns 180,556 shares.

More notable recent NXP Semiconductors N.V. (NASDAQ:NXPI) news were published by: Fool.com which released: "Can Qualcomm Close This NXP Semiconductors Merger Anytime Soon?" on February 16, 2018, also Globenewswire.com with their article: "NXP GreenBox Development Platform Accelerates Transition to Hybrid and ..." published on February 20, 2018, Zacks.com published: "NXP Semiconductors (NXPI) Q4 Earnings: What's in Store?" on February 05, 2018. The hedge fund run by John M. Angelo held 1.00M shares of the semiconductors company at the end of 2017Q3, valued at $113.09M, up from 100,000 at the end of the previous reported quarter.

NXP shares jumped in value to $126 on news of the deal. Valeo Financial Advisors LLC grew its stake in NXP Semiconductors by 931.3% during the 4th quarter. Farallon Capital Management LLC now owns 6,425,000 shares of the semiconductor provider's stock worth $703,216,000 after purchasing an additional 1,520,000 shares during the last quarter. Institutional investors own 82.44% of the company's stock. The rating was maintained by SunTrust on Thursday, October 26 with "Hold".

Under the terms of the deal, the minimum Qualcomm purchase condition of NXP's outstanding shares has been reduced from 80 percent to 70 percent, and the increased price has prompted the support of NXP shareholders led by Elliott Management, which originally opposed the deal.

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United States chipmaker Qualcomm Inc raised its offer to buy NXP Semiconductors NV to $127.50 per share yesterday, and said it has the backing of the shareholder group led by hedge fund Elliott Management that opposed its previous proposal.

In a February 20th, 2018 media release, Qualcomm said that both its board and NXP's board had approved an offer price of $127.50 Dollars, while also agreeing to lower the minimum tender condition to 70 percent of NXP's shares from 80 percent. (NYSE:FRO), 5 have Buy rating, 1 Sell and 2 Hold. NXP Semiconductors presently has a consensus rating of Hold and an average price target of $116.13. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) earned "Hold" rating by Drexel Hamilton on Thursday, February 8. Collegium Pharmaceutical Inc had 18 analyst reports since February 19, 2016 according to SRatingsIntel. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.22. If you are viewing this news story on another site, it was illegally copied and reposted in violation of USA and worldwide trademark and copyright legislation. The legal version of this article can be accessed at https://www.mareainformativa.com/alexandria-capital-llc-grows-position-in-nxp-semiconductors-nv-nxpi/131345/.

The combination of Qualcomm and NXP would create a semiconductor company to compete as the third largest behind Samsung and Intel with annual revenues of about $30 billion. The company operates in the Technology sector with a market capitalization of 40.45 Million. The Company designs and manufactures High Performance Mixed Signal semiconductor solutions to meet the requirements of systems and sub-systems in its target markets. The Company's segments are High Performance Mixed Signal (HPMS), Standard Products (SP), and Corporate and Other.

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