Goldman Says Google (GOOG) Changes Not Meaningful For NXP Semi (NXPI)

October 10, 2012 1:27 PM EDT
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Analyst at Goldman Sachs issued a report today in defense of NXP Semiconductors (Nasdaq: NXPI). Shares of NXP dropped on reports that Google (Nasdaq: GOOG) will replace NXPI with Broadcom (Nasdaq: BRCM) as NFC provider in the next Android design.

This change, in the view of Goldman Sachs, won’t be a meaningful contributor NXPI fundamentals, since they account for less than 5 percent of NXP Semiconductors’ sales.

Goldman expects NXPI to outperform as margins expand, and analysts have a Buy rating on the stock.

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