NXP sees dip but remain bullish
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NXP Semiconductors is remaining bullish about the semiconductor market despite a slight drop in revenue.
The latest financial figures for the second quarter of 2023 see a drop form the last quarter but are at the high end of expectations, says Kurt Sievers, NXP President and Chief Executive Officer.
This comes as TSMC is seeing a drop in orders from companies such as NXP as end customers use up the inventory they stored up as a result of the chip shortage.
- TSMC sees headwinds, flips to 10 percent decline forecast
- 3nm AI chips and 6nm microcontrollers will be key to TSMC
The company is heavily weighted towards automotive, recently signing Chinese electric car maker NIO for its automotive radar technology, including 4D imaging radar, and working with TSMC to deliver the semiconductor industry’s first automotive embedded MRAM (Magnetic Random Access Memory) technology in 16 nm FinFET technology. It is also working with Foxconn on electric vehicle designs.
- Foxconn deal for next generation electric vehicle
- NXP, Infineon reported to be in TSMC, Bosch wafer fab
“NXP delivered quarterly revenue of $3.3 billion at the high end of guidance, with revenue trends in all our focus end-markets performing better than anticipated. Our first-half results and guidance for the third quarter underpin our confidence that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses. At the same time, we see continued strength in our automotive, core-industrial and communications infrastructure businesses,” said Sievers.
Revenue in industrial and mobile markets all dropped compared to this time last year.
- NXP aims for microcontroller Nirvana
- Security push in Matter 1.0 development boards
- Schneider teams for the Software-Defined Factory
During the second quarter of 2023, the company continued to return cash to shareholders with $264m in cash dividends and the repurchase of $302 million of its common shares, just over the available free cash.
|
|
Q2 2023 |
Q1 2023 |
Q2 2022 |
Q – Q |
Y – Y |
|||
|
Automotive |
$ |
1,866 |
$ |
1,828 |
$ |
1,713 |
2% |
9% |
|
Industrial & IoT |
$ |
578 |
$ |
504 |
$ |
713 |
15% |
-19% |
|
Mobile |
$ |
284 |
$ |
260 |
$ |
388 |
9% |
-27% |
|
Comm. Infra. & Other |
$ |
571 |
$ |
529 |
$ |
498 |
8% |
15% |
Guidance for the Third Quarter of 2023 varies from $3.3bn to $3.5bn.
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