NXP Semi forecasts revenue below estimates on auto weakness, shares tumble
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July 24, 2024 8:38 AM EDT
Barclays analyst Blayne Curtis reiterated an Overweight rating and $330.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).
The analyst comments "Inventory at Auto OEMs is taking longer to work down but that is largely offset by better company specific drivers. We think that... More
July 24, 2024 7:21 AM EDT
BofA Securities analyst Vivek Arya reiterated a Buy rating and $320.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).
The analyst comments "Maintain Buy, top autos pick as we believe despite a muted Q3 outlook NXPI management has delivered best-in-class operational execution during the current... More
July 24, 2024 6:59 AM EDT
Citi analyst Christopher Danely reiterated a Sell rating and $220.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).
The analyst comments "Yesterday, NXPI reported in-line results but lowered C24 guidance as the inventory correction in the Auto end market (55% of 2Q24 sales) is... More
July 24, 2024 6:36 AM EDT
Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $350.00 price target on NXP Semiconductors NV (NASDAQ: NXPI)
The analyst comments "To start, we would be buyers of NXPI on this weakness. We understand the trade-off given the current Semi landscape and sub-seasonal guide (guided +4% in 3Q vs. seasonal +6%), but we think this is only a very near-term hiccup. In short, inventory digestion amongst select Tier1 Auto OEMs is taking longer than anticipated and the Core Industrial business continues to be weak (also leading to a more-muted 2H channel fill vs.... More
July 23, 2024 3:55 PM EDT
Truist Securities analyst William S. Stein lowered the price target on NXP Semiconductors NV (NASDAQ: NXPI) to $287.00 (from $291.00) while maintaining a Buy rating.
The analyst comments "NXP's recovery is pushed out slightly, but we still like the stock here. NXP posted... More
