NXP Semiconductors price target lowered to $280 from $330 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on NXP Semiconductors (NXPI) to $280 from $330 and keeps an Overweight rating on the shares. Management “sang a familiar tune” to Texas Instruments (TXN) with its quarterly report, calling out China as the lone bright spot in autos, pointing to a persistently weak industrial sector, and signaling a sequentially softer December and March, the analyst tells investors in a research note. The firm added that the persistently weak industrial sector bodes better or NXP, whose exposure should be relatively the lowest amongst peers, but guidance implies auto down mid-single digits quarter-on-quarter for the next couple quarters, getting 2025 started on a materially lower base than expected.