NXP Semiconductors N.V. (NXPI) provides a wide range of semiconductor products. Its products are deployed in several end-market applications such as automotive, personal security and identity, wireless and wireline infrastructure, mobile communications, multi-market industrial, consumer, and computing.
The company’s shares are down 34.1% year-to-date and 23.4% over the past month to close yesterday’s trading session at $150.02. Its stock price fell to a new 52-week low during midday trading on Wednesday after Bank of America reduced its price objective from $220.00 to $190.00 on worries over rising interest rates.
