Close

NXP Semiconductors NV (NXPI) PT Raised to $225 at Needham & Company

July 27, 2022 6:41 AM EDT
Get Alerts NXPI Hot Sheet
Price: $153.42 +4.01%

Rating Summary:
    20 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 11
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Needham & Company analyst Rajvindra Gill raised the price target on NXP Semiconductors NV (NASDAQ: NXPI) to $225.00 (from $220.00) while maintaining a Strong Buy rating.

The analyst commented, "NXP reported a solid beat and raise 2Q22 amid the deteriorating macro environment. The stock essentially traded flat as investors debated the sustainability of automotive and industrial markets. Lead times are unchanged, 80% of products are over 52 weeks. Here is the investor concern; companies with extended lead times will be last to see the expected downturn and pulling of orders. In our view, management did a good job explaining its strategy (preventing inventory building and de-risking the backlog) while providing incremental data points (SAAR +9% in 2H22 vs. 1H, EV penetration reaching 26%, ASPs rising into 2023) supporting growth. We expect the stock to trade sideways, until the buy-side is convinced a fundamental floor is built into forecasts. Our PT moves to $225 on a higher 2023 estimate on the same multiple."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company