Netherlands' NXP Semiconductors Q3 revenue rises 19%, slightly beats estimates
Netherlands' NXP Semiconductors Q3 revenue rises 19%, slightly beats estimates
Overview
Netherlands chipmaker's Q3 revenue up 19% yr/yr, slightly beating analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company authorized new $5 bln share repurchase program
Outlook
NXP forecasts Q4 revenue between $3.75 bln and $3.95 bln
Company expects Q4 non-GAAP gross margin between 58.5% and 59.5%
NXP projects Q4 non-GAAP diluted EPS between $4.14 and $4.58
Result Drivers
AUTOMOTIVE AND INDUSTRIAL - Co said accelerating growth in automotive and industrial segments helped drive Q3 results
DATA CENTER INFRASTRUCTURE - Co said continued momentum in data center infrastructure contributed to Q3 performance
PROFITABILITY AND CASH FLOW - Co said strong profitability and free cash flow enabled investments in innovation and manufacturing expansion
Company press release: ID:nGNX1rD1Yb
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $3.79 bln | $3.76 bln (22 Analysts) |
Q3 Adjusted EPS | Beat | $4.20 | $4.09 (20 Analysts) |
Q3 EPS |
| $3.48 |
|
Q3 Adjusted Gross Margin |
| 58.6% |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for NXP Semiconductors NV is $307.50, about 25.1% above its October 26 closing price of $245.83
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 17 three months ago
Reuters Recommended Reads
Oct 26 - Unconventional AI buys Israeli chip startup NeuReality to speed product development
Oct 26 - Cadence unveils suite of AI models that chipmakers can run in-house
Oct 26 - Cadence tops Q3 profit estimates, hikes forecast on AI-driven design strength
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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