Credit Suisse analyst John Pitzer raised his price target for NXP Semiconductors (NXPI) to $150 from $135 and reiterated an Outperform rating to reflect the completion of the acquisition of Marvell's (MRVL) WiFI division last month. The analyst says the stock continues to screen cheap and he continues to argue investors are undervaluing NXP's core IP position in connectivity, security and MCUs.

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