Why NXP Semiconductors, Axcelis Technologies, and SiTime Fell in October
Shares of auto and industrial-focused chip companies NXP Semiconductors (NASDAQ: NXPI), Axcelis Technologies (NASDAQ: ACLS), and SiTime (NASDAQ: SITM) had a tough October, falling 13.8%, 21.8%, and 12.6%, respectively, on the month, according to data from S&P Global Market Intelligence.
These three companies operate in slightly different areas of the automotive and industrial chip markets. And while many other types of semiconductors entered a correction in mid-2022, the auto and industrial markets had remained resilient through 2023.
There was some thinking these end markets may be resilient to a downturn, given that new cars and industrial equipment will have growing content per unit each and every year. However, the correction in these names now appears to be arriving.
Source Fool.com
NXP Semiconductors NV Stock
With 21 Buy predictions and 1 Sell predictions NXP Semiconductors NV is one of the favorites of our community.
As a result the target price of 237 € shows a slightly positive potential of 4.41% compared to the current price of 227.0 € for NXP Semiconductors NV.
