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NXPI - NXP Semiconductors NV News Story

$199.38 0.0  0.0%

Last Trade - 16/04/21

Sector
Technology
Size
Large Cap
Market Cap £40.33bn
Enterprise Value £44.34bn
Revenue £6.23bn
Position in Universe 224th / 6850

BUZZ-NXP Semi down over 2% after Texas storm closes plants

Wed 17th February, 2021 7:07pm
** Shares of NXP Semiconductors NV  NXPI.O  down 2.3% on Wed
after the chipmaker idled two plants in Austin, Texas due to a
power shortage caused by a winter storm  urn:newsml:reuters.com:*:nL4N2KN2W2
    ** The decline in NXP's stock was slightly worse than the
1.8% decline in the Philadelphia Semiconductor index  .SOX . NXP
is up ~20% YTD
    ** The halt in manufacturing in Austin, where Samsung
Electronics  005930.KS  also stopped production at a plant,
comes as a global shortage of semiconductors disrupts supply
chains of carmakers and other industries
    ** "Under normal circumstances we would expect this to have
only a minimal impact, but given the significant shortages
occurring throughout the industry, and in NXP's primary
automotive market in particular, such an outage will only serve
to exacerbate those shortages," Raymond James analyst Chris Caso
wrote in a research note 
    ** The ongoing chip shortage benefits chipmakers as they
allocate scarce production to top-paying customers, Caso added  

 ((noel.randewich@tr.com; (415) 677 2542, Twitter: @randewich;))
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