NXP Semiconductors (NXPI) has joined India’s Jio Platforms, a unit of Reliance Industries, to implement a 5G NR O-RAN small cell solution that leverages NXP’s Layerscape multicore processors. Jio Platforms’ Jio is the largest mobile operator in India and the third-largest globally.
The combination of Layerscape in Jio’s 5G solutions has successfully delivered peak data rates of 1Gbps+ at 100 MHz bandwidth in the 3.5 GHz spectrum. This solution will support new RAN networks in India that will enable a diverse array of 5G use cases, Industry 4.0, as well as IoT applications. These include telemedicine, tele-education, virtual reality, and drone-based monitoring of agricultural activities, among other applications.
Tareq Bustami, Senior Vice President and General Manager, Network Edge at NXP Semiconductors said, “The collaboration with Jio to develop, test and deploy 5G solutions underscores the power of our Layerscape products and the growing ability of NXP’s antenna-to-processor portfolio to accelerate new 5G deployments.” (See NXP stock chart on TipRanks)
Raymond James analyst Chris Caso recently reiterated a Buy rating on the stock and increased the price target to $230 (11.6% upside potential) from $220 after NXP’s March quarter results.
Caso commented, “We got exactly what we hoped for on the NXP report – a June quarter constrained by supply, but with solid margin upside, and increasing supply through 2H21 and into 2022 allowing forward numbers to move higher.”
Based on 12 Buys and 4 Holds, consensus on the Street is a Strong Buy. The average NXP price target of $225.13 implies 9.2% upside potential. Shares are up 84.8% over the past year.
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