NXP Semiconductors price target raised to $250 from $240 at Wells Fargo

Wells Fargo analyst Joe Quatrochi raised the firm’s price target on NXP Semiconductors (NXPI) to $250 from $240 and keeps an Overweight rating on the shares following the firm’s competitive SAM analysis of China vs. western peers. China competitive risk across analog semis remains an ongoing investor debate, the firm says. The breadth of China’s semi industry participation has rapidly increased over the past 10 years. While China’s ex-memory semi share has remained in the 7%-8% range the last few years, Wells’ analysis suggests China’s average SAM share of Western-based chip suppliers has increased to 10% in 2024 from 3% and 7% in 2014 and 2020.