NXP Semiconductors price target lowered to $245 from $264 at Truist

Truist lowered the firm’s price target on NXP Semiconductors (NXPI) to $245 from $264 and keeps a Buy rating on the shares following “inline” Q4 results. The firm noted that the outlook for Q1 and Q2 represents yet another push-out of stabilization or recovery. According to Truist, this echoes a familiar theme from NXP’s recent few quarters and the diversified analog/micro controller unit cohort quarter-to-date. Still, the company is executing “well” as measured by “solid” gross profit margin, disciplined inventory behavior and capital allocation, the firm told investors in a research note.