Evercore analyst Mark Lipacis maintains $NXP Semiconductors (NXPI.US)$ with a buy rating, and adjusts the target price from $370 to $315.
According to TipRanks data, the analyst has a success rate of 69.6% and a total average return of 31.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $NXP Semiconductors (NXPI.US)$'s main analysts recently are as follows:
NXP Semiconductors' guidance for the December quarter came in under expectations, with projections for the March-end quarter suggesting a significant seasonal decline. The company is encountering challenges in the automotive, industrial, and IoT sectors. Despite widespread difficulties in the auto industry, NXP's recent performance adjustments reflect these ongoing sector challenges.
Management's commentary echoed that of another industry player, highlighting China as the sole area of strength within the automotive sector, while noting the ongoing weakness in the industrial segment. They also indicated expectations for a softer performance in the subsequent quarters. It was noted that this continued industrial softness might comparatively benefit the company, given its lower relative exposure in this area. However, forecasts suggest that the automotive sector may see a mid-single-digit decrease quarter-on-quarter for the upcoming periods, marking the commencement of 2025 with a significantly lower foundation than anticipated.
The company's Q3 results were reported to be consistent with expectations, with projections for a weaker Q4 and a subdued Q1 outlook. This is seen as congruent with the trends outside of China that have been observed across the auto and industrial sectors. It is suggested that, despite a challenging macroeconomic environment, the company's anticipated sales growth for 2024 appears to surpass that of its peers. Additionally, there is an expectation that Q1 may represent a low point and that the downturn in auto production is not permanent. A resurgence in growth could potentially spark a recovery in a stock that is currently not crowded and has limited exposure to the artificial intelligence theme.
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