Anyone hearing anything about the $5B buyback or was that just a load of BS shoveled into the press to stop panic? It seems nothing is happening with this stock prices couple of months after Q payed NXP the breakup fee. Nothing is appearing in the stock charts to show any price support that would indicate any buyback has happened. You can't announce a buyback of this size on tv and in press and then have either nothing happen or it just disappear. Hock Tan was right. Lots of changes needed at the top of this company now. It's bad enough you can't trade the stock. Some press on dividends, I wonder if this is the future. That is a c-ap outcome for existing stock holders, and one unlikely to remain in place for very long.
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I'm with you. I haven't seen anything in the trading patterns to suggest any buyback has happened. I am waiting to see some big buys but its sell activity. I have no idea what is happening. I guess they are shopping the company again.
There is already news being driven out of media outlets (WSJ) rather than official NXP postings as usual. The quarterly dividend will be 25c, so with 350 mil shares out there in the wild, that is about 875 mil in returns to customers ($1) per year. That should take about 6 years to pay out the $5B which is a slap in face to investors I think and hardly a reason to trade this.
On that note the street doesn't like it with a yearly low being posted for the stock this morning. I am waiting to see if it breaks into the $87 region. So in my view the investor event has largely backfired.
Investors would have been looking for large structural changes, and clarity in the company operation - all they seemed to get was a focus on Auto, which hasn't performed as well as expected. At the same time RC said they got rid of a layer of management. Who was that? Nobody can see but then turned around and said $200M has been carved out for management bonuses, so the whole thing kind of stinks of self interest. It's times like these you need the board to intervene.
Even weirder were statements he sold 400M stock at the end of 17 which everyone new but wasn't announced publicly because of the way Dutch law works. He said his tax bill was to go from 30 to 52 cents. Whereas everyone knew back in early 17 that the rate was going down in the US so if anyone of us were going to shift that much a). we'd be looking at our domicile (he has property in Mexico) b). we would be asking ourselves how confident we were the deal was going to happen because there was still another 10% or more in upside to be had. So more questions than answers I think which is probably why the stock has tanked.
Even weirder was the idea he would be starting a "tech startup" with friends this summer, about the same time he is vacationing in the south of France.
On top of that in the singular vision to get rid of digital networking, you've had a private 'takeover' transaction happen, details undisclosed, in recent days to by a company with "200 years of combined experience (i.e. 10 real design engineers) so as to buy a company making Ethernet PHY chips for the car - exactly the sort of chip DN should have been the source for. If DN couldn't make a fast Auto PHY (inconceivable in my view) then it's time to give up. Everyone else (TI, Broadcom take your pick) has fast Auto Phy's available.
So in other news... what is happening in the rest of the company?
Given that they are hosting investors day in NY on Sept. 11 I suspect you will here then
NXO s---s, every FAE in Taiwan has over 300K USD salary but do nothing or playing video games in office all day long, sales representatives even has higher salary who also do no thing.