Goldman Sachs Comments On Qualcomm Acquisition Of Atheros

According to Goldman Sachs, Qualcomm QCOM announced it had completed the acquisition of Atheros for an enterprise value of $3.1 bn. Goldman Sachs said that the acquisition is expected to be modestly dilutive to EPS in FY2011 and modestly accretive in FY12, consistent with Qualcomm's original guidance issued on 1/5/2011. “There is no change to our 12-month price target of $68, based on 18X our new CY12 non-GAAP EPS estimate of $3.68.” Qualcomm closed yesterday at $56.31.