Investing.com -- Mizuho raised price targets across a slate of analog semiconductor names ahead of June-quarter earnings, citing signs of bottoming in the auto-industrial cycle and improving pricing dynamics for the second half of 2025.

Ahead of the June quarter earnings releases, Mizuho provided an update on the Analog/EV names it covers, raising targets on Allegro (WA:ALEP) MicroSystems, Microchip (NASDAQ: MCHP), Mobileye, NXP Semiconductors (NASDAQ: NXPI), and Texas Instruments (NASDAQ: TXN).

Mizuho now sees the June quarter as “a bottom for analog,” with “improving SepQ outlook.”

Analysts expect June revenue estimates for auto/industrial analog players are likely to be in line, with consensus forecasting growth of 4% to 5% quarter-over-quarter.

“SepQ analog supply chain pricing [is] pointing to up ~5% q/q,” the note said, adding that trends in pricing, manufacturing PMIs, and lead times point to “2H25E analog coverage revenue upside up ~7% h/h.”

Texas Instruments’ price target was lifted to $205, with analysts noting “a better 2H25E demand profile allowing TXN to work through elevated inventories.”

ALGM was raised to $37 on “continued tailwinds from emobility.” MCHP rose to $85 as “analog stocks have likely bottomed,” and NXPI was increased to $265 due to strength in automotive demand.

On EVs, Mizuho sees global BEV light vehicle production up 15% year-on-year in 2025, with China driving growth despite U.S. headwinds.

“We now see C25E BEV LVP up 15% y/y… while EU BEV registrations grew 25% YTD y/y,” they noted.

Meanwhile, the firm cut its target for Tesla (NASDAQ: TSLA) to $375, citing “continued headwinds from slowing sales,” although it remains the U.S. EV leader.