Jefferies Reiterates a 'Buy' on NXP Semiconductors NV (NXPI); Expanding Gross Margin, Improving Order Trends & Inventories Clearing

Jefferies reiterates a 'Buy' on NXP Semiconductors NV (NASDAQ: NXPI) price target raised from $21 to $27.

Jefferies analyst says, "Q4 revenue and EPS were in line with consensus, but the NXPI guided for 1Q12 revs 4% above consensus and for better gross margins as well. We view our forecast of $4.1b in 2012 revenues and gross margins to expand by 370 bps as being conservative, due to the company's rev recognition model (sell-in) and to our belief that it is ramping higher margin products."

Jefferies cuts FY12 EPS estimate from $1.66 to $1.52 and FY13 from $2.86 to $2.79.

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 $21.99 yesterday.

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