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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Broadcom Limited       SG9999014823

BROADCOM LIMITED
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234.74 USD   +2.56%
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Infineon not vulnerable to takeover - CEO in Boersen-Zeitung

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12/30/2017 | 02:22pm CEST
Ploss, CEO of Infineon arrives for the annual news conference in Neubiberg

FRANKFURT (Reuters) - German chipmaker Infineon (>> Infineon Technologies) does not see itself as vulnerable to a takeover despite mega-mergers in the sector led by Broadcom's $103 billion (76.27 billion pounds) offer for Qualcomm (>> Qualcomm), its chief executive told Germany's Boersen-Zeitung.

FRANKFURT (Reuters) - German chipmaker Infineon (>> Infineon Technologies) does not see itself as vulnerable to a takeover despite mega-mergers in the sector led by Broadcom's <AVGO.GO> $103 billion (76.27 billion pounds) offer for Qualcomm (>> Qualcomm), its chief executive told Germany's Boersen-Zeitung.

"Infineon is not a primary takeover target," Reinhard Ploss told the markets daily in an interview published on Saturday. "We communicate externally very clearly that we can and want to stand on our own two feet."

"My impression is that this is very well understood in the market, also by Chinese investors, who do not normally have a hostile takeover strategy with high-tech companies," he said.

Ploss said shareholders should be happy with Infineon's price-earnings ratio of around 27, giving it a market value of 26 billion euros ($31 billion) that a potential new owner would find hard to increase significantly.

He added that Infineon's strong position in security technology in Germany and engagement in the United States could present regulatory difficulties for a suitor.

Ploss said Infineon had learnt from its failed attempt to buy U.S. chipmaker Wolfspeed, which foundered on U.S. security concerns, and would be expanding its political network in the United States.

(Reporting by Georgina Prodhan; Editing by Stephen Powell)

Stocks treated in this article : Qualcomm, Infineon Technologies, Broadcom Limited
Stocks mentioned in the article
ChangeLast1st jan.
INFINEON TECHNOLOGIES -1.37% 20.1 Delayed Quote.-11.98%
QUALCOMM -1.21% 73.7 Delayed Quote.16.53%
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Financials ($)
Sales 2018 20 819 M
EBIT 2018 10 199 M
Net income 2018 11 493 M
Debt 2018 12 842 M
Yield 2018 2,77%
P/E ratio 2018 8,82
P/E ratio 2019 18,88
EV / Sales 2018 5,48x
EV / Sales 2019 5,16x
Capitalization 101 B
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 284 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Hock E. Tan President, Chief Executive Officer & Director
James V. Diller Chairman
Boon Chye Ooi Senior Vice President-Global Operations
Thomas Harry Krause Chief Financial Officer
Henry Samueli Chief Technical Officer & Director
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