NXP Semiconductors Auto Strength Helps Offset Industrial Slowdown As Europe Pressures Outlook
Shares of NXP Semiconductors NV (NASDAQ:NXPI) were trading lower on Tuesday, despite the company reporting upbeat fourth-quarter revenues.
The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.
Stifel On NXP Semiconductors
Analyst Tore Svanberg reiterated a Hold rating and price target of $231.
NXP Semiconductors reported its December quarter revenues at $3.11 billion, down 4.3% sequentially but in-line with expectations, Svanberg said in a note. Non-GAAP earnings of $3.18 per share came in 2 cents per share short of consensus estimates, “with slight Auto outperformance offset by Comms. Infrastructure coming in below expectations,” he added.
The midpoint of the company’s revenue guidance for the March quarter, at $2.82 billion, represents a 9.2% sequential decline and is 3.3% lower than the consensus, the analyst …
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