Truist analyst William Stein lowered the firm’s price target on NXP Semiconductors (NXPI) to $252 from $287 and keeps a Buy rating on the shares. The company delivered inline Q3 results overall, but guided Q4 solidly below consensus amid weakness seen at most semi/component companies, the analyst tells investors in a research note. When cyclical demand recovers, NXP Semi’s sales and margins should benefit from new products and new manufacturing capacity, the firm added.
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