April 28, 2016: Hearing rumors circulating that an activist investor has taken a stake in Whole Foods Market Inc. The rumor is that Leonard Green is building a stake.
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February 17, 2016: Wells Fargo initiates Whole Foods Market Inc with a Market Perform rating, and sets a price target of $27 to $28.
February 10, 2016: Whole Foods Market Inc beat analysts estimates. The company reports Q1 EPS of $0.46 versus the $0.40 estimate. Revenue came in at $4.83 billion versus the $4.81 billion estimate. The company said it plans to open 30 new stores in 2016.
The CEO said, “The company opened three new stores. In the second quarter, the Company has opened two new stores and expects to open six additional stores. Company sees potential for 1,200 Whole Foods Market stores in the United States, with the new 365 format expanding the growth opportunity beyond 1,200 stores.”
October 29, 2015: Whole Foods Market (WFM Updated Trend Analysis) hearing takeover rumors. The rumor says that WMT is a potential acquirer.
October 20, 2015: Discloses strategic review of business. Since joining the Company, Rick and his team have been working to identify and execute on opportunities to improve the Company’s sales growth and to drive operational efficiencies. An update on these findings will be provided when the Company reports its third quarter fiscal 2015 earnings in November. Reminder: On Oct 16th, there were reports company founder Ray Berry teamed with private equity to consider a going private offer.
Whole Foods Market (WFM Updated Trend Analysis) is the leading retailer of natural and organic foods, the first national “Certified Organic” grocer, and uniquely positioned as America’s Healthiest Grocery Store.
The CEO says, “We are off to a strong start in 2016 delivering results for the year and laying groundwork for our long-term growth with innovative new product launches globally.”
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January 22, 2016: Amgen announced that the Japanese Ministry of Health, Labour and Welfare has approved the cholesterol-lowering medication Repatha (evolocumab) Injection, the first proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor to be approved in Japan. Repatha is a human monoclonal antibody that inhibits PCSK9, a protein that reduces the liver’s ability to remove low-density lipoprotein cholesterol (LDL-C), or “bad” cholesterol, from the blood.1 Repatha was developed in Japan by Amgen Astellas BioPharma K.K. (AABP), a joint venture between Amgen and Astellas Pharma Inc., a pharmaceutical company headquartered in Tokyo.
Results from Phase 3 studies showed that adding Repatha to background lipid-lowering therapy that included statins resulted in intensive reductions in LDL-C. YUKAWA-2, a pivotal Phase 3 study in Japanese patients with high cardiovascular risk and high cholesterol, demonstrated that subcutaneous Repatha 140 mg every two weeks or 420 mg every four weeks, compared to placebo, in combination with daily doses of atorvastatin, reduced LDL-C by 67 to 76 percent from baseline at week 12 and at the mean of weeks 10 and 12. The adverse events that occurred in greater than 2 percent of the Repatha group were nasopharyngitis (16.8 percent Repatha; 17.8 percent placebo), gastroenteritis (3.0 percent Repatha; 1.0 percent placebo) and pharyngitis (2.5 percent Repatha; 2.5 percent placebo).3 Results from TAUSSIG, a global, open-label, single-arm study in patients with homozygous FH, including patients in Japan, showed Repatha reduced LDL-C by approximately 23 percent. The adverse events that occurred in greater than 5 percent of patients were nasopharyngitis (9.0 percent) and influenza (7.0 percent).
Repatha is also approved in the European Union, United States and Canada.
January 21, 2016: Amgen announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental New Drug Application (sNDA) of Kyprolis (carfilzomib) for injection in combination with dexamethasone or with lenalidomide plus dexamethasone for the treatment of patients with relapsed or refractory multiple myeloma who have received one to three lines of therapy.
The FDA also approved Kyprolis as a single agent for the treatment of patients with relapsed or refractory multiple myeloma who have received one or more lines of therapy. This FDA decision converts to full approval the initial accelerated approval Kyprolis received in July 2012 as a single agent.
The approval is based on results from the Phase 3 head-to-head ENDEAVOR study. This was a superiority trial in which the primary endpoint was progression-free survival (PFS). The data showed patients with relapsed multiple myeloma treated with Kyprolis and dexamethasone achieved 50 percent greater PFS of 18.7 months compared to 9.4 months in those receiving Velcade(bortezomib) and dexamethasone, a current standard of care in relapsed multiple myeloma. Patients in the study were treated until disease progression.
The most common adverse reactions (greater than or equal to 20 percent) in the Kyprolis arm were anemia, diarrhea, dyspnea, fatigue, insomnia, pyrexia and thrombocytopenia.This new indication for Kyprolis is the second in six months. In July 2015, the FDA approved another expanded indication for Kyprolis in combination with lenalidomide and dexamethasone (KRd) for the treatment of patients with multiple myeloma who have received one to three prior lines of therapy.
January 20, 2016: Credit Suisse Initiates Amgen with an Outperform rating, and sets a price target of $205.
Amgen Inc (AMGN Updated Trend Analysis) is a biotechnology company that discovers, develops, manufactures, and delivers human therapeutics worldwide.
Amgen Science published this video about their science:
Amgen published one of the most enlightening educational videos on cancer available on YouTube. Here is Part 1:
April 28, 2016: Gigamon reports Q1 2016 EPS of $0.22 versus the $0.18 estimate. Revenue also beat coming in at $67.2 million versus the $62 million estimate.
The CEO says, “Security continues to be a significant growth driver for us representing over 60% of our transactions this quarter. Our Security Delivery Platform is proving to be the most efficient and effective way for organizations to scale their security deployments. The strength in this vertical in combination with accelerating growth in our Mobility market addressing the needs of Service Providers around the globe, delivered an all-time high revenue result.”
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October 12, 2015: Gigamon (GIMO Updated Trend Analysis) collaborates with VMware to deliver enhanced virtualized functions in GigaSECURE platform. Gigamon has extended its collaboration with VMware to enable customers to accelerate the operationalization of the Software Defined Data Center. New functionality in Gigamon’s GigaSECURE Security Delivery Platform will enable administrators to automate the selection, filtering and forwarding of virtual traffic for monitoring and security analytics. The GigaSECURE Security Delivery Platform is comprised of scalable hardware and software elements that give security administrators unparalleled visibility and capability for bolstering security effectiveness. By combining the GigaSECURE platform with VMware NSX, organizations will have the ability to automate provisioning and configuration of their virtual network traffic monitoring, collection, manipulation and delivery to their network and security tools.
August 31, 2015: Gigamon announced a collaboration with RSA, the Security Division of EMC
Collaboration to provide pervasive visibility into Software Defined Data Center traffic via Gigamon’s new Security Delivery Platform, GigaSECURE. Together the GigaSECURE platform and RSA Security Analytics provide pervasive visibility and actionable intelligence into physical and virtual network environments, including the VMware NSXplatform.
July 23, 2015: 16:06:30 [GIMO] Gigamon Reports Q2 $0.16 v $0.14e, R$51.4M v $49.9Me. Non-GAAP gross margin 79% v 79% y/y
Gigamon designs, develops, and sells products and services that provide customers with visibility and control of network traffic for enterprises and services providers in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company offers network traffic intelligence, such as proprietary traffic selection, forwarding, manipulation, modification, de-duplication, correlation, and sampling capabilities.
April 27, 2016: PayPal reports Q1 2016 EPS of $0.37 versus the $0.35 estimate. Revenue also beat coming at $2.54 billion versus the $2.5 billion estimate. In the first quarter, PayPal gained market share and extended its leadership position. PayPal processed $81 billion in TPV, representing…
April 27, 2016: PayPal reports Q1 2016 EPS of $0.37 versus the $0.35 estimate. Revenue also beat coming at $2.54 billion versus the $2.5 billion estimate. In the first quarter, PayPal gained market share and extended its leadership position. PayPal processed $81 billion in TPV, representing FX-neutral growth of 31%, which was faster than the growth rate of e-commerce. Merchant services TPV growth accelerated to 39% on an FX-neutral basis, and represented 82% of overall TPV for the quarter. PayPal processed $21 billion in mobile payment volume, up 54%, representing 26% of TPV for the quarter. Venmo, the companys social payments platform, processed $3.2 billion of TPV, up 154% year-over-year.
PayPal’s total payment volume (TPV) was up +31% year over year, to $81 billion.
The CEO says, “Our first quarter results continue to demonstrate the power of our global payments platform to attract and engage consumers, increasing our global scale and in turn attracting new merchants and partners to PayPal. Our focus on payments and ability to innovate for merchants and consumers continues to differentiate PayPal and drive our growth in a dynamic and competitive environment.”
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February 29, 2016: Jefferies reiterates a Buy rating on PayPal, and sets a price target of $44. Jefferies analysts say that the “Pay with Venmo” product which is being rolled out during ’16 could add 2.1-5.5% to ’17 EPS and firm also believes success should drive multiple expansion. Jefferies view on accretion from Venmo is higher than when they last did this analysis, and they also suggest accretion of as much as 6.7% in 2018.
January 28, 2016: Wedbush Morgan raised PayPal to an Outperform rating from Neutral, and sets a price target of $40. Wedbush analysts view Paypal as the best positioned large-cap payments company for the current environment with a strong hold on its core online market and options on tangential markets remittance, credit and in-store.
November 21, 2015: PayPal Holdings, Inc. (PYPL Updated Trend Analysis) Carl Icahn swapped his entire eBay stake for PayPal shares. Activist investor Carl Icahn sold his entire stake in eBay, and put that money into an equivalent number of shares of PayPal. Growth investors will likely follow Mr. Icahn’s lead and invest in PayPal.
November 03, 2015: PayPal (PYPL Updated Trend Analysis) to join the NASDAQ-100 Index Beginning November 11, 2015.
PayPal Holdings, Inc., will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on Wednesday, November 11, 2015. PayPal Holdings, Inc. will replace Broadcom Corporation.
October 30, 2015: PayPal Holdings, Inc. (PYPL Updated Trend Analysis) higher on vague takeover rumors circulating. American Express rumored as a potential buyer with price chatter in the low $40’s.
PayPal Holdings, Inc. (PYPL Updated Trend Analysis) operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide.
April 27, 2016: Xilinx Inc reports Q4 2015 EPS of $0.54 versus the $0.52 estimate. Revenue also beat coming in at $571 million versus the $566 million estimate.
The company says, “Momentum from our new products continued in the fourth fiscal quarter of 2016 with sales from 20nm products significantly exceeding $25 million and sales from the 28nm product family achieving record levels… Although fiscal 2016 experienced volatility from the wireless communications segment, Xilinx delivered its third consecutive generation of products to market ahead of the competition, enabling substantial PLD share gains. Additionally, our consistent and robust profitability enabled Xilinx to increase its dividend for the eleventh time since initiating the program in 2004.”
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April 20, 2016: Hearing takeover rumors circulating about Xilinx AGAIN. Once again, the rumor is that Qualcomm might be interested in acquiring the company.
January 26, 2016: Hearing rumors going around that Xilinx could be a takeover candidate. Rumors say that Qualcomm might be a possible suitor.
January 22, 2016: Hearing rumors circulating that a Xilinx Inc potential tie-up may be in the works, but investors should not consider it a done deal.
January 21, 2016: FBR reiterates Market Perform rating on Xilinx Inc, and sets a price target of $50. FBR analyst says Xilinx reported better-than-expected C4Q15 top-line results and in-line C1Q16 guidance. FBR says company filed 8-K including a change in control provision and benefits for management upon a takeout. FBR thinks this increases the odds of a takeout and perhaps lends credence to the DealReporter article suggesting that QUALCOMM could be a suitor. Source: http://www.techinvestornews.com/Tech-News/Financial-Bloggers/qualcomm-could-target-xilinx-dealreporter-speculates
November 16, 2015: Xilinx Inc (XLNX Updated Trend Analysis) enters strategic alliance with IBM to develop FPGA-enabled workload acceleration. The company announced a multi-year strategic collaboration to enable higher performance and energy-efficient data center applications through Xilinx FPGA-enabled workload acceleration on IBM POWER-based systems. IBM and Xilinx, through a private signed agreement and collaboration through the OpenPOWER Foundation, are teaming to develop open acceleration infrastructures, software and middleware to address emerging applications such as machine learning, network functions virtualization (NFV), genomics, high performance computing (HPC) and big data analytics.
As these heterogeneous workloads have become increasingly prevalent, data centers are turning to application accelerators to keep up with the demands for throughput and latency at low power. Xilinx All Programmable FPGAs deliver the power efficiency that makes accelerators practical to deploy throughout the data center. IBM’s open and licensable POWER architecture together with Xilinx FPGAs provide compelling performance, performance/watt and lower total cost of ownership for the next generation data centers workloads. As part of the IBM and Xilinx strategic collaboration, IBM Systems Group developers will create solution stacks for POWER-based servers, storage and middleware systems with Xilinx FPGA accelerators for data center architectures such as OpenStack, Docker, and Spark. IBM will also develop and qualify Xilinx accelerator boards into IBM Power Systems servers. Xilinx is developing and will release POWER-based versions of its leading software defined SDAccel Development Environment and libraries for the OpenPOWER developer community. Additionally, IBM and Xilinx will continue to further utilize IBM’s innovative Coherent Accelerator Processor Interface (CAPI) to deliver accelerated computing value to its clients. CAPI, a unique feature built into the POWER architecture, provides Xilinx and the technology industry at large with the ability to build tightly integrated, coherent solutions right on top of the POWER architecture. For example, independent software vendors are already leveraging IBM Flash Storage attached to CAPI to create very large memory spaces for in memory processing of analytics, enabling the same query workloads to run with 1/24 the number of servers compared to commodity x86 solutions. These breakthroughs enable POWER8-based systems to continue where the promise of Moore’s Law falls short, by delivering performance gains through OpenPOWER ecosystem-driven, full stack innovation.
“The combination of IBM and Xilinx provides our clients not only with a new level of accelerated computing made possible by the tight integration between IBM POWER processors and Xilinx FPGAs, but also gives them the ability to benefit directly from the constant stream of innovation being delivered by the rapidly expanding OpenPOWER ecosystem,” said Ken King, General Manager, OpenPOWER, IBM.
“Xilinx is collaborating with IBM, data center customers and the industry ecosystem to enable world class solutions for the next generation of cloud computing and NFV applications. IBM’s vast resources and expertise in data center and cloud software will contribute greatly to the FPGA-based accelerator movement currently underway.”
Recognizing an open approach to data center infrastructure is core to enabling workload acceleration across the industry, Xilinx has deepened its investment in the OpenPOWER Foundationan independent organization with more than 160 members worldwide supporting open development on the POWER architecture. Already an active participant on the OpenPOWER Foundation’s Accelerator Work Group, Xilinx today announced it has raised its membership to Platinum level and has been approved for a Board Director position.
October 27, 2015: Xilinx hearing takeover rumors circulating. Rumor is that the company has hired advisors to explore a sale; QCOM rumored as a potential acquirer, with price chatter in the high $50’s range.
October 14, 2015: Xilinx (XLNX Updated Trend Analysis) reports Q2 $0.48 v $0.46e, R$528M v $528Me. Guides Q3 Rev +3% to 7% q/q. Guides Q3 gross margin 69%. Comments: Xilinx and Qualcomm Incorporated through its subsidiary, Qualcomm Technologies, Inc., announced a strategic technical collaboration to deliver industry-leading heterogeneous computing solutions with new levels of efficiency and performance through FPGA-enabled dynamic workload acceleration on Qualcomm Technologies’ server platforms. The strategic collaboration is designed to span multiple product generations, ranging from card level to highly-integrated solutions. Target applications include compute acceleration, big data analytics, machine learning, storage and CloudRAN. Xilinx continued to demonstrate a strong commitment to returning value to stockholders. In the September quarter, the Company repurchased $100 million of stock and paid $80 million in dividends, representing over 130% of operating cash flow generated during the quarter.
Xilinx (XLNX Updated Trend Analysis) develops all programmable technologies and devices, beyond hardware to software, digital to analog, and single to multiple die in 3D ICs. Xilinx also offers development boards; development kits, including hardware, design tools, IP, and reference designs that are designed to streamline and accelerate the development of domain-specific and market-specific applications; and configuration products, such as one-time programmable and in-system programmable storage devices to configure Xilinx field programmable gate arrays.
April 27, 2016: Marriott International, Inc. reports Q1 2016 EPS of $0.87 versus the $0.84 estimate. Revenue also beat coming in at $3.77 billion versus the $3.67 billion estimate. The company did not issue full year 2016 EPS guidance because, “Given the uncertainty regarding the precise timing of the Starwood transaction and the resulting interest expense and share issuances, the company is not providing full year 2016 EPS guidance at this time.”
The CEO says, “Demand for our brands remains strong. Our development pipeline increased to more than 275,000 rooms in the first quarter compared to 240,000 rooms in the year-ago quarter. Our flagship brands, Marriott and Courtyard, both reimagined and reinvented, continue to be favored by our owners and franchisees. Together, those brands make up over 35% of our pipeline worldwide. Yet, our seven newest brands, many in the lifestyle space popular with a new generation of travelers, are also gaining great traction, comprising more than 15% of our pipeline. We welcomed two of our newest brands, Moxy and Delta, to the United States in the quarter… Our planned acquisition of Starwood Hotels & Resorts is on track. Shareholders of both companies overwhelmingly approved proposals relating to the merger and we continue to look forward to a mid-2016 closing. Toward that end, integration teams from both companies have been working over the last several months to ensure a smooth transition. We look forward to creating the largest lodging company in the world.”
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March 20, 2016: Marriott International, Inc said today that the the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has approved Marriott International’s application to pursue a business transaction in Cuba, and that the company is in discussions to develop a hospitality relationship with potential partners. The announcement was made during President Obama’s historic trip to Cuba, marking the first time in more than 80 years a sitting U.S. president has visited the country. Marriott President and Chief Executive Officer Arne Sorenson is traveling with U.S. Commerce Secretary Pritzker during the President’s visit to Cuba.
March 11, 2016: The White House hopes to see some major U.S. firms reach deals to do business in Cuba before President Obama’s trip to Cuba on March 20, 2016. AT&T, Starwood, and Marriott are working on deals in Cuba. The Marriott CEO John Willard Marriott Jr. will join President Obama on the Cuba trip.
March 8, 2016: Marriott International plans to double in size in Europe once Starwood acquisition is complete. In Europe, the company will reach over 123,000 opened or signed rooms when Marriott’s 61,000 open rooms join with Starwood’s 40,500 open rooms and the combined pipeline of 21,500 rooms. The newly acquired luxury brands will complement Marriott’s existing offering in the economy and mid-tier sector, including Moxy Hotels, AC Hotels and Courtyard Hotels, yielding 22 lodging brands across Europe from economy to luxury.
Marriott International, Inc. operates, franchises, and licenses hotels and timeshare properties worldwide.
April 27, 2016: Silicon Motion Inc reports Q1 2016 EPS of $0.68 versus the $0.64 estimate. Revenue also beat coming in at $113 million versus the $105 million estimate.
The CEO says, “We expect demand for our Embedded Storage products to grow further in the second quarter and to remain strong through this year as we continue our efforts to increase our business further with our NAND flash partners. Demand for client SSDs is very strong as adoption of SSDs by PC OEMs continues to increase at the expense of HDDs. Demand for Android smartphones remains solid and we believe that device sales should grow modestly this year. Finally, we believe that we are well positioned with our enterprise SSDs customized for the data centers of leading Chinese internet companies and industrial SSDs tailored for Japanese OEMs.”
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February 01, 2016: Pacific Crest/Keybanc reiterates Overweight rating on Silicon Motion Inc, price target raised to $38 from $36.
August 17, 2015: Silicon Motion Inc Pacific Crest Raised SIMO to Overweight from Sector Weight, price target: $32
– citing valuation an growth opportunities
– Firm states that they are bullish on SIMOs growth opportunities in client SSDs
– Firm notes that stock price declinedin last couple of months on weak demand in China, but increasing penetration of client SSDs and greater market share should benefit SIMO
– Gross margin (non-GAAP) 51% v 52.0% q/q
– Op margin (non-GAAP) 22.7% v 24.1% q/q
– CEO: Revenue for our eMMC controller was unchanged this quarter compared to the last. Despite, lackluster demand for smartphones and tablets in China and elsewhere, our NAND flash partners business development activities have been very strong. This quarter, we secured over 60 new eMMC controller design-wins at smartphone and other device OEMs through SK Hynix, a record number for us, and expect our eMMC sales to grow sequentially through the rest of this year. By the end of 2015, sales of our embedded storage products, which include eMMC and client SSD controllers and Shannon enterprise SSD solutions, could grow to account for up to two-thirds of our total revenue.
August 18, 2015: 7:25:58 [SIMO] Silicon Motion Inc Tier1 firm Cuts SIMO to Underperform from Buy, price target: $19
– price target cut to $19 from $37
– citing potential market share loss
– Firm notes both Hynix and Micron have recently confirmed capex increase which would include more active development for inhouse NAND controller IC
– Firm notes that 2H earnings still appear solid at 50% GM but such high margins cannot be sustainable due to price cut pressure.
Silicon Motion Technology (SIMO) is a Taiwan semiconductor company which makes chips for the mobile storage and mobile communications markets. It provides mobile storage products, including microcontrollers used in solid state storage devices, such as solid state drives, eMMCs, and other embedded flash applications, as well as removable storage products, such as flash memory card controllers and USB flash drive controllers; and mobile communications products, such as mobile TV SoCs and handset transceivers. Its products are used in smartphones, tablets, digital cameras, notebooks, desktop PCs, and industrial and commercial applications.
FoxBusiness had this segment on Silicon Motion Technology from February 25, 2016:
April 26, 2016: Cirrus Logic, Inc. reports Q4 2015 EPS of $0.38 versus the $0.21 estimate. Revenue also beat coming in at $232 million versus the $227 million estimate. Gross margin (GAAP) came in at…
April 26, 2016: Cirrus Logic, Inc. reports Q4 2015 EPS of $0.38 versus the $0.21 estimate. Revenue also beat coming in at $232 million versus the $227 million estimate. Gross margin (GAAP) came in at 49.7% versus 46.6% year over year.
The CEO says, “FY16 was an outstanding year for Cirrus Logic as we delivered record revenue of $1.2 billion, up 28 percent from the prior year. Additionally, the company is positioned to exceed our long-term revenue growth model again in FY17. Demand for our products continues to gain momentum as our customers push to further differentiate their devices with compelling and consistent audio and voice capabilities. With a robust portfolio of components and an extensive roadmap the company is well positioned to capitalize on the rapidly growing markets for audio and voice in FY17 and beyond.”
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February 26, 2016: Cirrus Logic Inc. Topeka Capital initiates with a Buy rating, and sets a price target of $42.
February 8, 2016: Pacific Crest/Keybanc reiterates an Overweight rating on Cirrus Logic, and sets a price target of $40. Pacific Crest/Keybanc says that despite uncertainty associated with the iPhone’s future growth prospects, CRUS represents one of few semiconductor companies that still has significant growth opportunities in mobile over the next several years. In particular, they believe the digital headset opportunity could drive an incremental $0.15 to $0.69 in incremental EPS and would support fair value of $40 to $50.
Cirrus Logic Inc (CRUS Updated Trend Analysis) a fabless semiconductor company, develops analog and mixed-signal integrated circuits for a range of consumer and industrial markets.
CirrusLogicTV published this video about their company:
CirrusLogicTV published this video about their SoundClear technology:
April 26, 2016: After Mizuho Securities and Credit Suisse assigned a Buy rating to NXP Semiconductors, in the last month, the company received another Buy rating, this time from Oppenheimer. Analyst Rick Schafer…
April 26, 2016: After Mizuho Securities and Credit Suisse assigned a Buy rating to NXP Semiconductors, in the last month, the company received another Buy rating, this time from Oppenheimer. Analyst Rick Schafer reiterated a Buy rating on NXP Semiconductors yesterday. Credit Suisse also reiterated its Outperform rating on NXP Semiconductors, and set a price target of $120.
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March 11, 2016: NXP Semiconductors has joined the U.S. Department of Transportations Smart City Challenge as a provider of vehicle-to-vehicle and vehicle-to-infrastructure (V2X) technology. With this partnership, NXP, together with its partner Cohda Wireless, will provide the contests winning community with wireless technology that allows cars to securely exchange data, such as hazard warnings, over distances of more than a mile to prevent accidents and improve traffic flow.
The Smart City Challenge is a nationwide competition set to award the winning, medium-sized U.S. city a prize of $50 million through the Department of Transportation and its partners, for that citys ideas to develop the connected city of the future and address the challenges that growing populations present to transportation infrastructure. As part of NXPs partnership with the Department of Transportation, the winning city will also receive advanced NXP technologies, including V2X systems engineered to dramatically enhance the future of transportation.
March 01, 2016: Drexel Hamilton initiates coverage of NXP Semiconductors with a Buy rating, and sets a price target of $102.
February 04, 2016: Credit Suisse reiterates Outperform rating on NXP Semiconductors, and sets a price target of $120.
December 22, 2015: NXP Semiconductors receives China UnionPay secure product certification. NXP Semiconductors N.V. announced it has successfully obtained, for two of its integrated circuit (IC) products, the secure product certificate from China UnionPay, the domestic bank card organization in the People’s Republic of China. China UnionPay issued the security certification to the first version of NXPs SmartMX2 P60 secure microcontroller IC products in August 2015, making NXP the first foreign company to receive such validation in China. In October 2015, a second SmartMX2 P60 secure microcontroller received the security certification and additional NXP SmartMX products are currently undergoing China UnionPays security tests, further advancing NXPs ability to better serve customers and partners in the China market.
December 07, 2015: NXP Semiconductors (NXPI Updated Trend Analysis) and Freescale announce completion of merger. The company announced the completion of the merger pursuant to the terms of the previously announced merger agreement from March 2015. The merged entity will continue operations as NXP Semiconductors N.V. (NXPI) and has become the market leader in automotive semiconductor solutions and in general purpose microcontroller (MCU) products. As previously announced, the transaction is expected to be accretive to NXP non-GAAP earnings in 2016, and NXP anticipates achieving cost savings of $200 million in 2016 with a clear path to $500 million of annual cost synergies.
NXP also today announced the closing of the divestiture of its RF Power business to Jianguang Asset Management Co. Ltd (JAC Capital), after receiving official confirmation that JAC Capital has deposited the required funds at its bank in China to pay the purchase price. The cash proceeds for the sale will be received later this month following the required regulatory filings for cross-border transfers of funds from China. NXP has obtained bridge financing until the funds are received.
December 07, 2015: NXP Semiconductors Deutsche Bank reiterates Buy rating, price target raised to $110 from $100. With the NXPI/FSL deal expected to close on 12/7/15, Deutsche Bank analyst believes investor focus will move away from deal closure risk to the combined entitys accretion potential. To that point, Deutsche is publishing their model for the combined company and introducing formal 2017 PF EPS of $7.50. Deutsche believes the combination of a cyclical rebound post poor 4Q guides from NXPI/FSL, the EPS accretion from the deal, the more balanced revenue mix and the potential for significant cash returns should drive upside in NXPI shares. Firm reiterates NXPI as a top pick for 2016.
December 6, 2015: FBR Capital added NXPI (NXPI Updated Trend Analysis) to their Top Picks list. FBR analyst notes a stabilization of lead times for NXPI in October and believes wall street has underestimated the revenue snapback that may take place in mid 2016 given the mechanics of sell-in accounting and dynamics around a slowdown in the rate of inventory depletion.
November 30, 2015: NXP Semiconductors names Dan Durn CFO, effective December 7th. Peter Kelly, NXPs current CFO, has expressed a desire to retire in 2017 and the appointment of Mr. Durn is part of the succession plan for the company. Mr. Kelly will continue to report to Rick Clemmer, NXPs CEO and will continue to be a key member of the NXP Management Team. In his new role Mr. Kelly will focus on Strategy and M&A, as well as ensuring a successful integration with Freescale. Before joining NXP, Mr. Durn was senior vice president and CFO of Freescale Semiconductor. Prior to Freescale, he served as CFO and executive vice president of finance and administration at Globalfoundries, the industrys second largest semiconductor foundry. Prior to Globalfoundries, Durn was head of M&A and strategy at Advanced Technology Investment Company (ATIC), a $15 billion private equity company. He also served as vice president in investment banking at Goldman, Sachs & Company and was a member of their merger leadership group. Dan graduated from the U.S. Naval Academy with a BS in control systems engineering and served in the Navy for six years upon graduation. He also earned an MBA in finance from Columbia Business School.
NXP Semiconductors (NXPI Updated Trend Analysis), a semiconductor company, creates solutions that enable secure connections for a smarter world. The company provides solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide.
NXP Semiconductors published this video about their company:
NXP Semiconductors published this video about how their technology used in the automotive industry:
NXP Semiconductors published this video about how their technology used in next generation wireless speakers: