As previously reported, BofA/Merrill analyst Vivek Arya added NXP Semiconductors to the US 1 List following the Q1 beat and raise. Arya attributes strength to strong design wins in autos/IoT, combined with mobile, and 5G markets and notes the margin recovery is on track and management continues to buyback shares aggressively. The analyst reiterated his Buy rating on NXP Semiconductors and raised his price target to $125 from $105

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.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here