NXP Semiconductors Shows Signs Of Bottoming, 5 Analysts Dive Into Q1 Results
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Shares of NXP Semiconductors NV (NASDAQ:NXPI) were up Tuesday after the company reported higher-than-expected earnings for its first quarter.
Here are some key analyst takeaways from the release.
- KeyBanc Capital Markets analyst John Vinh cited “solid” NXP results for the first quarter
- Cantor Fitzgerald analyst CJ Muse maintained an Overweight and price target of $290
- Mizuho Securities analyst Vijay Rakesh reaffirmed a Neutral rating and price target of $225
- Stifel analyst Tore Svanberg reiterated a Hold rating on the stock
- Oppenheimer analyst Rick Schafer maintained an Outperform rating on the stock.
Check out other analyst stock ratings.
KeyBanc Capital Markets: Earnings came in at $3.24 per share, Vinh noted. This beat the consensus of $3.16 per share. A gross margin of 58.2% marginally surpassed market expectations of 58%.
The company expects revenue to remain sequentially flat in the second quarter. There are “signs of stabilization and bottoming cyclical demand in industrials,” the analyst wrote.
Cantor Fitzgerald: The latest results did not …
Full story available on Benzinga.com
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