Nordic Semiconductor slumps after short-range segment targets miss consensus
26/09/2024 09:38
** Shares in Nordic Semiconductor NOD.OL fall 14%, with
analysts pointing to lower-than-expected targets in its
short-range segment announced ahead of CMD
** The company sees modest growth in short-range with only
limited effect in 2025 of the new range of SoCs
(System-On-Chips), the nRF54 Series, and expects accelerating
growth from 2026 onwards
** "Consensus sees 33% growth in 2025 in the short-range
segment; assuming 10-20% growth would lower consensus 2025 sales
by c. USD 95-45m (or 14-7%)," SEB analyst Markus Heiberg says
** "A number of expectations were also attached to cellular
IoT, where NOD aims to achieve profitability in 2028, which the
market may think is far out of date," Arctic analyst Kristian
Spetalen says
** If losses hold, the stock will see its worst day since
February
(Reporting by Tilla Sjaavaag)
((tilla.sjaavaag@thomsonreuters.com))