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NXP Semiconductors (NXPI) Adds S32 CoreRide to Auto Portfolio
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NXP Semiconductors N.V. (NXPI - Free Report) is leaving no stone unturned to capitalize on growth opportunities present in the software-defined vehicle (SDV) market. Per a MarketsandMarkets report, the SDV market is expected to reach $419.7 billion by 2028, exhibiting a CAGR of 9.1% between 2023 and 2028.
Notably, the company’s introduction of its S32 CoreRide platform testifies to the aforesaid fact.
The platform is designed by combining NXPI’s S32 compute, networking, system power management and software from its partner ecosystem, simplifying complex vehicle architecture development and offering scalable real-time and application processing.
Additionally, the first solutions in the S32 CoreRide platform include a central compute solution, advanced vehicle networking, system power management and pre-integrated software, enabling automakers to integrate cross-vehicle functions safely.
NXP Semiconductors is expected to gain solid traction across automotive manufacturers on the back of its latest move.
Apart from the S32 CoreRide platform, the company extended its automotive radar one-chip family with the SAF86xx, an integrated radar System-on-Chip that streams low-level sensor data at 1 Gbit/s, optimizing ADAS partitioning for software-defined vehicles and enabling a seamless transition to new architectures through Over-the-Air updates.
Further, NXP Semiconductors rolled out Trimension NCJ29D6, a fully integrated automotive Ultra-Wideband family that integrates real-time localization with short-range radar, enabling secure car access, child presence detection, intrusion alert and gesture recognition.
The company’s launch of S32M2, a purpose-built motor control solution for improving the efficiency of vehicle applications like pumps, fans and trunk openers, remains noteworthy.
This integrated system-in-package solution adds power, analog functions and extensive software libraries to the widely adopted S32K microcontrollers, addressing the emerging software-defined electric vehicle market.
To Conclude
All the above-mentioned endeavors are likely to boost NXPI’s performance across the automotive end-market, which remains a key growth driver for the company. Its shares have gained 7.9% year to date, outperforming the industry’s growth of 0.9%.
Strong momentum in the automotive end-market will likely aid the company’s overall financial performance in the upcoming period.
However, challenging macroeconomic conditions, geopolitical headwinds, raging inflation and leveraged balance sheets remain major concerns for the company.
The Zacks Consensus Estimate for 2024 total revenues is pegged at $13.27 billion, indicating a year-over-year decline of 0.1%.
The consensus mark for 2024 earnings is pegged at $13.79 per share, indicating a year-over-year decline of 1.6%.
Image: Bigstock
NXP Semiconductors (NXPI) Adds S32 CoreRide to Auto Portfolio
NXP Semiconductors N.V. (NXPI - Free Report) is leaving no stone unturned to capitalize on growth opportunities present in the software-defined vehicle (SDV) market. Per a MarketsandMarkets report, the SDV market is expected to reach $419.7 billion by 2028, exhibiting a CAGR of 9.1% between 2023 and 2028.
Notably, the company’s introduction of its S32 CoreRide platform testifies to the aforesaid fact.
The platform is designed by combining NXPI’s S32 compute, networking, system power management and software from its partner ecosystem, simplifying complex vehicle architecture development and offering scalable real-time and application processing.
Additionally, the first solutions in the S32 CoreRide platform include a central compute solution, advanced vehicle networking, system power management and pre-integrated software, enabling automakers to integrate cross-vehicle functions safely.
NXP Semiconductors is expected to gain solid traction across automotive manufacturers on the back of its latest move.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
Growing Focus on the Automotive Market
Apart from the S32 CoreRide platform, the company extended its automotive radar one-chip family with the SAF86xx, an integrated radar System-on-Chip that streams low-level sensor data at 1 Gbit/s, optimizing ADAS partitioning for software-defined vehicles and enabling a seamless transition to new architectures through Over-the-Air updates.
Further, NXP Semiconductors rolled out Trimension NCJ29D6, a fully integrated automotive Ultra-Wideband family that integrates real-time localization with short-range radar, enabling secure car access, child presence detection, intrusion alert and gesture recognition.
The company’s launch of S32M2, a purpose-built motor control solution for improving the efficiency of vehicle applications like pumps, fans and trunk openers, remains noteworthy.
This integrated system-in-package solution adds power, analog functions and extensive software libraries to the widely adopted S32K microcontrollers, addressing the emerging software-defined electric vehicle market.
To Conclude
All the above-mentioned endeavors are likely to boost NXPI’s performance across the automotive end-market, which remains a key growth driver for the company. Its shares have gained 7.9% year to date, outperforming the industry’s growth of 0.9%.
Strong momentum in the automotive end-market will likely aid the company’s overall financial performance in the upcoming period.
However, challenging macroeconomic conditions, geopolitical headwinds, raging inflation and leveraged balance sheets remain major concerns for the company.
The Zacks Consensus Estimate for 2024 total revenues is pegged at $13.27 billion, indicating a year-over-year decline of 0.1%.
The consensus mark for 2024 earnings is pegged at $13.79 per share, indicating a year-over-year decline of 1.6%.
Zacks Rank & Stocks to Consider
Currently, NXPI carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Airbnb (ABNB - Free Report) , BlackLine (BL - Free Report) and AMETEK (AME - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Airbnb have gained 21.2% in the year-to-date period. The long-term earnings growth rate for ABNB is 16.85%.
Shares of BlackLine have risen 3.4% in the year-to-date period. The long-term earnings growth rate for BL is currently projected at 5.50%.
Shares of AMETEK have gained 10.9% in the year-to-date period. The long-term earnings growth rate for AME is 9.19%.