NXP Semiconductors' (NXPI) Price Target Raised to $125 at Deutsche Bank

Deutsche Bank maintained a Buy rating on NXP Semiconductors NV (NASDAQ: NXPI) and raised its price target to $125.00 (from $115.00). The change follows meeting with management.

Analyst Ross Seymore said, "Given its recently reported results, investor questioning focused upon near-term sector fundamentals and specifically, why NXPI for the first time provided full-year guidance. On the latter, NXPI indicated the extended guidance was given to adjust expectations to a seasonality that differs from past years (2Q/3Q slightly lower, 4Q slightly higher), albeit with full-year expectations being virtually unchanged."

"Beyond 2H15, mgmt remains confident in the co's ability to grow at a rate 50% above the semi sector, reiterating the sub-segment 3-yr revenue CAGR targets it established at last fall's analyst meeting. SIS and SCD received the most investor attention, with SIS growth finally reaccelerating in 2Q (all segments up —eGov, banking, transit). Wednesday's announcement regarding NXP's secure element/RF NFC solution being included in QCOM's Snapdragon reference designs reinforces NXP's commitment to a 20% CAGR in SCD. We view this partnership as a positive in that it endorses NXP’s payment architecture, links them with the leader in the baseband space and removes a potential competitor," added the analyst.

For an analyst ratings summary and ratings history on NXP Semiconductors NV click here. For more ratings news on NXP Semiconductors NV click here.

Shares of NXP Semiconductors NV closed at $103.98 yesterday.

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