NXP Semiconductors forecasts Q2 profit above estimates on industrial demand recovery [Reuters]
NXP Semiconductors N.V. (NXPI)
Last nxp semiconductors n.v. earnings: 4/27 05:00 pm
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Source: Reuters
April 29 (Reuters) - NXP Semiconductors NV forecast second-quarter profit above estimates on Monday, as easing inventory corrections at its industrial and mobile customers helped offset decelerating revenue from automotive customers due to slowing EV demand. U.S.-listed shares of the Eindhoven, Netherlands-based chipmaker rose 6% in extended trading. After many quarters of working down existing chip inventory, orders from industrial and mobile customers show signs of rebounding. These markets were experiencing a chip supply glut after a pandemic-fueled buying spree. Peer Texas Instruments second-quarter revenue above analysts' estimates earlier in April. Industrial and IoT revenue grew 14%, while mobile revenue was up 34% in the first quarter. However, the automotive market, NXP's biggest by revenue share, is starting to see an inventory build-up. Expensive EVs have put off consumers already grappling with higher-for-longer interest rates, hurting demand for the company's
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NXPI
News
- NXP Semiconductors (NASDAQ: NXPI) had its price target raised by analysts at Cantor Fitzgerald from $290.00 to $325.00. They now have an "overweight" rating on the stock.MarketBeat
- Taiwan Semi Set to Build $11B Chip Plant in Germany, Aiming for 2027 Production Start [Yahoo! Finance]Yahoo! Finance
- NXP Semiconductors (NASDAQ: NXPI) is now covered by analysts at Jefferies Financial Group Inc.. They set a "buy" rating and a $325.00 price target on the stock.MarketBeat
- Ferrari N.V. (NYSE:RACE) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- NXP Semiconductors (NASDAQ: NXPI) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
NXPI
Earnings
- 4/29/24 - Beat
NXPI
Sec Filings
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/15/24 - Form ARS
- NXPI's page on the SEC website