JPMorgan lowered the firm’s price target on NXP Semiconductors (NXPI) to $240 from $260 and keeps a Neutral rating on the shares. The company reported slightly better revenue, operating margins, and earnings with better trends in automotive being slightly offset by incrementally weaker trends in industrial and communications infrastructure, the analyst tells investors in a research note. The firm says NXP continues to see a weak demand environment and customer inventory work-downs in the industrial and automotive end markets on top of the end-of-life of its embedded processor product segment within its communications infrastructure business.
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Read More on NXPI:
- NXP Semiconductors upgraded to Neutral from Sell at Citi
- NXP Semiconductors Reports 2024 Financial Results
- NXP Semiconductors’ Earnings Call: Mixed Sentiments and Strategic Moves
- NXP Semiconductors price target raised to $260 from $257 at Goldman Sachs
- NXP Semiconductors price target lowered to $245 from $264 at Truist
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