Skip to main content

Market Overview

Oppenheimer Upgrades NXP Semiconductors On Auto Strength

Share:
Oppenheimer Upgrades NXP Semiconductors On Auto Strength

While NXP Semiconductors NV (NASDAQ: NXPI) reported its fourth-quarter sales ahead of the consensus estimates, the upside would have been even higher if the company had not faced supply constraints, according to Oppenheimer.

The NXP Semiconductors Analyst: Rick Schafer upgraded NXP Semiconductors from Perform to Outperform, while keeping the price target unchanged at $210.

The NXP Semiconductors Thesis: Although the company may continue to witness some supply constraints through 2021, these should ease with a ramp in capacity, Schafer said in the note.

“Auto and industrial are expected up 25%/50%, respectively, in 1Q. Mobile growth remains robust on greenfield UWB and growing wallet attach. Comms is expected to accelerate in 2H, as 5G BTS deployments pick up and GaN PA mix grows,” the analyst wrote.

Core auto and industrial sales, which account for around 70% of the company’s total sales, are likely to benefit as the global economy rebounds, Schafer said. “NXPI shares also benefit from any further cyclical/value rotation,” he added.

NXPI Price Action: Shares of NXP Semiconductors had declined by 1.2% to $175.08 at the time of publication Wednesday.

(Photo: NXP Semiconductors)

Latest Ratings for NXPI

DateFirmActionFromTo
Apr 2021Morgan StanleyDowngradesOverweightEqual-Weight
Mar 2021Credit SuisseMaintainsOutperform
Feb 2021CitigroupMaintainsNeutral

View More Analyst Ratings for NXPI
View the Latest Analyst Ratings

 

Related Articles (NXPI)

View Comments and Join the Discussion!

Posted-In: Oppenheimer Rick SchaferAnalyst Color Upgrades Analyst Ratings Best of Benzinga

Latest Ratings

StockFirmActionPT
QSRNorthcoast ResearchInitiates Coverage On
DQGLJ ResearchInitiates Coverage On22.1
TCMaxim GroupDowngrades
GLNGB of A SecuritiesDowngrades
LMNXPiper SandlerDowngrades37.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com