Why NXP Semiconductors Shares Are Trading Lower Today

NXP Semiconductors NV (NASDAQ:NXPI) shares are trading lower Thursday afternoon after Mizuho downgraded the stock from Buy to Neutral and lowered its price target from $225 to $220.

NXP Semiconductors is a leading supplier of high-performance mixed-signal products. The firm acquired Freescale Semiconductor in 2015 and now has a significant market share in the automotive market, where it supplies microcontrollers and analog chips into automotive clusters, powertrains, infotainment systems, and radars.

NXP Semiconductors has a 52-week high of $216.43 and a 52-week low of $114.38. At the time of publication, shares were trading 4.9% lower at $193.70.