NXP Semiconductors (NXPI) PT Raised At Piper, Most Misunderstood Semi Story

Piper Jaffray analyst, Harsh Kumar, reiterated his Overweight rating on shares of NXP Semiconductors NV (NASDAQ: NXPI) and raised his price target to $110 from $100 on the belief that its story is one of the most underappreciated in the semiconductor industry.

The analyst stated "we believe concerns surrounding automotive are largely overblown, and we see the company benefitting disproportionately to the upside with a trade resolution due to its broad based nature. In addition, we expect the company to meet their near-term gross margin target of 55% exiting the fourth quarter of 2019, which would provide upside to our and Street estimates. Overall, we continue to like NXP’s end-markets consisting of automotive and industrial, along with upside from 5G opportunities".

For an analyst ratings summary and ratings history on NXP Semiconductors NV click here. For more ratings news on NXP Semiconductors NV click here.

Shares of NXP Semiconductors NV closed at $98.52 yesterday.

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