Jefferies Lifts Numbers on NXP Semiconductors (NXPI) After Solid Q1, Guidance

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April 27, 2012 9:34 AM EDT
Get Alerts NXPI Hot Sheet
Price: $222.97 --0%

Rating Summary:
    25 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Jefferies boosted its price target on NXP Semiconductors NV (NASDAQ: NXPI) from $27 to $30 following better-than-expected Q1 results and Q2 outlook.

The firm comments, "We model NXP's 2012 gross margins to increase by 600 bps by EY12, and note that its HPMS business (80% of revs) grew faster than peers. We think the company's product cycles in ID, Auto, and Wireless position it for continued solid growth."

Q2 EPS goes from $0.30 to $0.40, FY12 goes from $1.52 to $1.64 and FY13 from $2.79 to $2.69.

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 $25.02 yesterday.

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