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Qualcomm for NXP: A Good Use of Cash, Says RBC

As shares of Qualcomm (QCOM) and NXP Semiconductors (NXPI) surge this afternoon, on speculation the former is talking with the latter about buying it, RBC Capital's Amit Daryanani weighs in with his view of what the deal means, arguing it’s a good diversification for Qualcomm, and a good use of its cash balance. The deal can also boost Qualcomm earnings over time, he writes: We think QCOM for NXPI (assuming a reasonable valuation is paid) would be an attractive acquisition for QCOM and a good use of $30B cash QCOM currently has on their balance sheet.
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