{"id":3361,"date":"2023-05-02T19:58:32","date_gmt":"2023-05-02T23:58:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nxp-bull-sees-opportunities-beyond-auto-chip-sales\/"},"modified":"2023-05-02T19:58:33","modified_gmt":"2023-05-02T23:58:33","slug":"nxp-bull-sees-opportunities-beyond-auto-chip-sales","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=3361","title":{"rendered":"NXP Bull Sees Opportunities Beyond Auto-Chip Sales"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000634407\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        NXP Semiconductors<br \/>\n       gave investors plenty of positives in its first-quarter earnings report Monday. One analyst is highlighting strong auto-chip sales, among other strengths. \u00a0<\/p>\n<p>NXP (ticker: NXPI) posted first-quarter revenue of $3.12 billion and adjusted earnings of $3.19 a share, higher than the $3.00 billion and $3.02 a share analysts had penciled in, according to FactSet.\u00a0<\/p>\n<div class=\"paywall\">\n<p>Auto-chip sales clocked in at $1.83 billion for the quarter, climbing 17% from the year-earlier period.\u00a0<\/p>\n<p>Needham analyst Rajvindra Gill, who rates shares as Strong Buy with a price target of $235, says he is \u201cbullish\u201d on the company\u2019s \u201cstrong positioning in automotive,\u201d as the segment comprises about 50% of sales.\u00a0<\/p>\n<p>\u201cMoreover, we are constructive on the company\u2019s positioning in communications infrastructure and expect them to benefit from the expected acceleration in 5G infrastructure spending in mid-2022,\u201d Gill wrote in a Tuesday report. He said he expect other segments will show strength in the long term.<\/p>\n<p>For the second quarter, the company told investors to expect adjusted earnings of $3.07 to $3.49 a share with revenue between $3.1 billion and $3.3 billion, beating analysts\u2019 expectations. <\/p>\n<p>The results and guidance \u201cunderpin a cautious optimism that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses, while we see continued strength in our automotive and core-industrial businesses,\u201d said Chief Executive Officer Kurt Sievers in the earnings release.\u00a0<\/p>\n<p>In other news, the company said Tuesday it will collaborate with Chinese electric-vehicle producer<br \/>\n        NIO<br \/>\n       (<br \/>\n        NIO<br \/>\n      ) on the deployment of high-resolution imaging radar.  <\/p>\n<p>\u201cThe cars will be able to detect and classify objects such as other vehicles and vulnerable road users in high-way and complex urban scenarios and at distances of up to 300m, bringing more safety to the roads and driving comfort for end users,\u201d NXP said in a news release. <\/p>\n<p>NXP stock was up 1.9% to $169.13 in Tuesday trading. So far this year, shares have gained 7%.<\/p>\n<p>Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nxp-bull-opportunities-auto-chip-bd8e879f?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NXP Semiconductors gave investors plenty of positives in its first-quarter earnings report Monday. One analyst is highlighting strong auto-chip sales, among other strengths. \u00a0 NXP (ticker: NXPI) posted first-quarter revenue of $3.12 billion and adjusted earnings of $3.19 a share, higher than the $3.00 billion and $3.02 a share analysts had penciled in, according to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-3361","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NXP Bull Sees Opportunities Beyond Auto-Chip Sales | iFintechWorld<\/title>\n<meta name=\"description\" content=\"NXP Semiconductors gave investors plenty of positives in its first-quarter earnings report Monday. 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