NXP Semi Stock Is A Buy On Weakness, Most Attractive Analog Name In Space: Analyst
NXP Semi Stock Is A Buy On Weakness, Most Attractive Analog Name In Space: Analyst
Cantor Fitzgerald analyst C J Muse reiterated NXP Semiconductors (NASDAQ:NXPI) with an Overweight and a $350 price target.
康脱菲茨杰分析师CJ缪斯重申恩智浦半导体（纳斯达克：NXPI）看涨并给出350美元的目标价。
On Monday, NXP Semiconductors reported second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst consensus estimates of $3.125 billion. The company reported adjusted EPS of $3.20, lagging the analyst consensus estimates of $3.21.
周一，恩智浦半导体公布了第二季度营业收入同比下降5％至31.27亿美元，超出了分析师的一致预期312.5亿美元。该公司报告调整后每股收益为3.20美元，低于分析师的一致预期3.21美元。
NXP Semiconductors expects third-quarter revenue of $3.15 billion—$3.35 billion, compared to consensus estimates of $3.35 billion. The company projects third-quarter adjusted EPS of $3.21 – $3.63, compared to analyst estimates of $3.56.
恩智浦半导体预计第三季度营业收入为315亿至335亿美元，预测分析师一致预期为335亿美元。公司预测第三季度调整后每股收益为3.21美元至3.63美元，预计分析师预期为3.56美元。
Muse acknowledged the company's worse-than-expected in-line second-quarter print and missed guidance.
缪斯承认公司第二季度的业绩与预期持平，但未达到分析师的指引。
The analyst noted that management provided very little information other than the fact that all segments came in roughly as expected.
该分析师指出，管理层提供的信息很少，除了所有板块的业绩都与预期大致相同之外。
So while the third-quarter guide of +4% quarter-on-quarter comes in a bit below the seasonal of +6%, the business continues to trend in the right direction, highlighting NXP Semiconductors' strategic positioning and resiliency at a cyclical bottom, Muse said.
因此，尽管第三季度的指引环比增长4％略低于季节性的6％，恩智浦半导体的业务继续向着正确的方向发展，突显了该公司在周期底部的战略定位和韧性，缪斯说。
Outside of the obvious questions around cycle and end-market trends into the second half, Muse noted a key question into the earnings call would be around the extent of channel fill assumed within the guide the analyst had previewed a $50 million – $100 million tailwind in the quarter. However, given the guidance, this vision may be rosy.
除了关注下半年周期和终端市场趋势等明显问题之外，缪斯还指出，业绩会上一个关键问题将是指引中管道填充的程度。分析师预计本季度将有5000万至1亿美元的尾部风，但鉴于该指引，这一预期可能有些太过乐观。
For the calendar year 2024, it is now apparent flat year-on-year revenues are off the table. However, the typical seasonality of flat quarter-on-quarter would still enable the calendar year 2024 earnings power of $13.30, Muse said.
对于2024年日历年，今年的营收不再是持平的。但是，平坦季度的典型季节性仍将使2024年日历年的收益潜力达到13.3美元，缪斯说。
Assuming 7% top-line growth in calendar year 2025, this would support EPS of $15.00+ as per the analyst.
假设2025年日历年总线增长7％，这将支持每股收益为15.00美元及以上，分析师预计。
Muse noted that NXP Semiconductors remains the most attractive Analog name in the space, particularly given the well-above seasonality modeled for Texas Instruments Inc (NASDAQ:TXN), Analog Devices, Inc (NASDAQ:ADI), and Microchip Technology Inc (NASDAQ:MCHP).
缪斯指出，恩智浦半导体仍然是该领域中最具吸引力的模拟名称，特别是考虑到得克萨斯仪器公司（纳斯达克：TXN）、Analog Devices, Inc （纳斯达克交易所：ADI）和Microchip Technology Inc （纳斯达克：MCHP）的季节性大大超过预期。
The analyst noted that NXP Semiconductors' valuation is relatively attractive at a cyclical bottom and that investors would be buyers on weakness.
该分析师指出，在周期底部，恩智浦半导体的估值相对有吸引力，投资者应在疲软中买入。
Muse projects third-quarter revenue and EPS of $3.43 billion and $3.80.
缪斯预计第三季度的营收为34.3亿美元，每股收益为3.80美元。
Price Actions: NXPI shares traded lower by 9.41% at $256.90 at the last check Tuesday.
价格走势：恩智浦半导体股票周二最后一次检查时低跌9.41％至256.90美元。