NXP Semiconductors NV (NXPI) PT Raised to $320 at Needham & Company
- S&P 500, Nasdaq close up 4th straight week as optimism grows
- 'Back in Tech': Investors are Increasing Exposure to Tech and Growth Stocks - BofA
- Rivian Reports Bigger Loss, Says Current Models Won't Qualify for Tax Breaks
- US-listed China Stocks Slip on Delisting Moves, Analyst Sees Short-term Noise
- Salesforce (CRM), Snowflake (SNOW) Rated New Sell at Guggenheim, Oracle (ORCL) at Buy
Get instant alerts when news breaks on your stocks. 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 $320.00 (from $300.00) while maintaining a Strong Buy rating.
The analyst commented, "We are raising our price target on NXPI to $320 following a strong beat and raise quarter on the top and bottom line. Demand is accelerating at a faster pace than supply, leading the company to believe it can grow above the high-end of its LT 8-12% targeted range, implying mid-teens growth in CY22. In addition, NXPI is not seeing any signs of order cancellations, order push-outs or order rescheduling from its customers. Inventory levels, whether internal, in the distribution channel or at the end customer is at record low levels. Across most end markets, the company is witnessing non-cancellable backlog coverage as customers want to secure capacity over a short-to medium period, providing long-term visibility. Our new PT is based on a 50/50 blend of a 22x P/E on our new CY22 Non-GAAP estimate of $13.40 and an EV/EBITDA multiple of 19x."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Swire Properties (1972:HK) (SWPFF) PT Raised to HK$25.90 at Citi
- Unicharm Corporation (8113:JP) (UNICY) PT Raised to JPY4,400 at Nomura/Instinet
- Sosei Group Corp. (4565:JP) (SOLTF) PT Lowered to JPY1,800 at Nomura/Instinet
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!