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.
康脫菲茨傑分析師CJ繆斯重申恩智浦半導體（納斯達克：NXPI）看漲並給出350美元的目標價。
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.
週一，恩智浦半導體公佈了第二季度營業收入同比下降5％至31.27億美元，超出了分析師的一致預期312.5億美元。該公司報告調整後每股收益爲3.20美元，低於分析師的一致預期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.
恩智浦半導體預計第三季度營業收入爲315億至335億美元，預測分析師一致預期爲335億美元。公司預測第三季度調整後每股收益爲3.21美元至3.63美元，預計分析師預期爲3.56美元。
Muse acknowledged the company's worse-than-expected in-line second-quarter print and missed guidance.
繆斯承認公司第二季度的業績與預期持平，但未達到分析師的指引。
The analyst noted that management provided very little information other than the fact that all segments came in roughly as expected.
該分析師指出，管理層提供的信息很少，除了所有板塊的業績都與預期大致相同之外。
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，儘管第三季度的指引環比增長4％略低於季節性的6％，恩智浦半導體的業務繼續向着正確的方向發展，突顯了該公司在週期底部的戰略定位和韌性，繆斯說。
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.
除了關注下半年週期和終端市場趨勢等明顯問題之外，繆斯還指出，業績會上一個關鍵問題將是指引中管道填充的程度。分析師預計本季度將有5000萬至1億美元的尾部風，但鑑於該指引，這一預期可能有些太過樂觀。
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.
對於2024年日曆年，今年的營收不再是持平的。但是，平坦季度的典型季節性仍將使2024年日曆年的收益潛力達到13.3美元，繆斯說。
Assuming 7% top-line growth in calendar year 2025, this would support EPS of $15.00+ as per the analyst.
假設2025年日曆年總線增長7％，這將支持每股收益爲15.00美元及以上，分析師預計。
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).
繆斯指出，恩智浦半導體仍然是該領域中最具吸引力的模擬名稱，特別是考慮到得克薩斯儀器公司（納斯達克：TXN）、Analog Devices, Inc （納斯達克交易所：ADI）和Microchip Technology Inc （納斯達克：MCHP）的季節性大大超過預期。
The analyst noted that NXP Semiconductors' valuation is relatively attractive at a cyclical bottom and that investors would be buyers on weakness.
該分析師指出，在週期底部，恩智浦半導體的估值相對有吸引力，投資者應在疲軟中買入。
Muse projects third-quarter revenue and EPS of $3.43 billion and $3.80.
繆斯預計第三季度的營收爲34.3億美元，每股收益爲3.80美元。
Price Actions: NXPI shares traded lower by 9.41% at $256.90 at the last check Tuesday.
價格走勢：恩智浦半導體股票週二最後一次檢查時低跌9.41％至256.90美元。