After the White House released an official statement regarding President Trump's meeting with China, including a quote that Chinese President Xi Jinping would consider "approving the previously unapproved Qualcomm-NXP deal should it be presented to him," Stifel analyst Tore Svanberg said "circumstances have changed materially" for both Qualcomm (QCOM) and NXP Semiconductors (NXPI) since their deal was terminated. Qualcomm's stock buybacks and its payment of the $2B break-up fee to NXP has shifted the company's previous $13.5B net cash position to a $4.2B net debt position, noted Svanberg. For its part, NXP has "aggressively" been repurchasing shares to see its own net debt expand from $2.4B to $4.4B in a quarter, the analyst added. While this combined $19.2B depletion in net cash doesn't preclude Qualcomm from making a renewed bid, it does materially alter the economics and potential structure of such a deal, concluded Svanberg, who added that this news could have positive implications for analog semis in general. He maintains a Sell rating on NXP Semiconductors shares with a $78 price target.

Susquehanna analyst Christopher Rolland raised the firm's price target on Impinj (PI) to $150 from $140 and keeps a Positive rating on the shares. The firm said they posted a solid print with additional upside driven by the licensing win from NXP Semiconductors (NXPI). Customer engagements and new RFID markets continue to broaden the opportunity.

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.