NXP Semiconductors Sees No Big Ramp In End Demand, Yet Analysts Raise Price Targets

Shares of NXP Semiconductors NV (NASDAQ:NXPI) tanked in early trading on Wednesday, despite the company reporting upbeat second-quarter results.

Here are some key analyst takeaways.

Truist Securities analyst William Stein reiterated a Buy rating, while raising the price target from $230 to $252.

Needham analyst Quinn Bolton reaffirmed a Buy rating, while taking the price target higher from $225 to $250.

Check out other analyst stock ratings.

Truist Securities: NXP Semiconductors reported solid results for the second quarter, with sales of $2,926 million beating consensus of $2,902 million, with the beat driven by end markets, Stein said in a note. The ...