BofA/Merrill believes NXP Semiconductor's (NXPI) potential Q4 deal approval of the Freescale Semiconductor (FSL) acquisition to be a material catalyst for shares. Analsyt Vivek Arya recommends taking advantage of the recent pullback in NXP shares and remains positive given the Freescale combination will reduce dependence on Apple (AAPL) and commodity discrete exposure and diversify the customer base, and deleverage the balance sheet which could lead to aggressive buybacks. Further, the analyst reports indicate Apple is exploring ways to expand Apple Pay in China and the Qualcomm (QCOM) partnership cold further expand NFC adoption. Arya rates NXP a Buy with a $125 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.