NXP Semiconductors results, guidance indicate soft landing is happening: BofA

seekingalpha04-30

First-quarter results and guidance from NXP Semiconductors (NASDAQ:NXPI) are indicative that a "soft landing" in the automotive and industrial regions of the semiconductor industry is playing out, ...

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happening: BofA\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-30 19:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4096141-nxp-semiconductors-results-guidance-indicate-soft-landing-is-happening-bofa><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First-quarter results and guidance from NXP Semiconductors (NASDAQ:NXPI) are indicative that a \"soft landing\" in the automotive and industrial regions of the semiconductor industry is playing out, ...</p>\n\n<a href=\"https://seekingalpha.com/news/4096141-nxp-semiconductors-results-guidance-indicate-soft-landing-is-happening-bofa\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1815336760.USD","symbol_name":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) 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NXP Semiconductors shares rose 3.5% in premarket trading.  \"Notably, automotive segment sales were down - 5% QoQ and -1% YoY, meeting [management] expectations despite widespread headwinds in the auto industry, a sign that NXPI’s 'soft landing' execution is working well,\" analyst Vivek Arya wrote in a note.  Arya reiterated his Buy rating and $300 price target, noting NXP is trading at less than 20 times trough earnings per share estimates. Conversely, peers such as Texas Instruments (TXN), Analog Devices (ADI) and Microchip Technology (MCHP) trade between 38 and 41 times earnings.  Other positive takeaways include the strong guidance for gross margins, which is expected to be around 58.5% in the coming quarter, above peer ON Semiconductor (ON), which guided its gross margin to 45.2%, down 70 basis points. Automotive revenue was seen as \"in line\" with expectations despite concerns for the sector, while the company's management reiterated its view of 8% to 12% compound annual sales growth between 2021 and 2024. The company is set to hold a conference call this morning at 8:30 a.m. EST to discuss the results.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2431450563"}