Analyst Quinn Bolton of Needham maintained a Buy rating on NXP Semiconductors, with a price target of $250.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that highlight the positive trajectory of NXP Semiconductors. The company reported third-quarter results that slightly exceeded the midpoint of their guidance, although they were just below consensus estimates. Importantly, NXP provided fourth-quarter revenue guidance that surpassed expectations, indicating a positive outlook.
Bolton also noted that NXP is experiencing broad-based improvements across all end markets and geographies, with no signs of accelerated or delayed orders. The automotive sector, in particular, is showing signs of a steady cyclical recovery, with auto revenue only slightly below its previous peak. Additionally, the company is strategically managing distributor inventory levels to maintain competitiveness. These factors, along with the unchanged price target of $250 based on future earnings estimates, support the Buy rating.
In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $289.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXPI in relation to earlier this year.