NXP Semiconductors (NASDAQ:NXPI) Sales, Margins Look Good for 2011

After meeting with management of NXP Semiconductors NV (NASDAQ:NXPI), Barclays said they see sales and margins continuing to look good in 2011.

Barclays noted, "We hosted a meeting this morning (Friday) with NXP CEO Rick Clemmer, key executives, and investors, where Mr. Clemmer and business heads of NXP's HPMS ID and Auto units provided a constructive update on key business initiatives. The tone of the meeting was positive on the outlook for both sales growth in CY11 (driven by several segments of NFC, Automotive, RF for Wireless basestations, CFL/LED Lighting and Greenchip) and margin expansion. Management appears confident in growing HPMS (High Performance Mixed Signal) business ahead of industry, highlighting core strength in areas of deep IP portfolio, leading mixed signal and digital design skills, and deep applications expertise. We believe estimates remain conservative and reiterate our rating."

Barclays maintains an "Overweight" rating on NXP Semiconductors NV, which closed Friday at $22.92, losing $0.32, or 1.38 percent. Barclays raised their price target on NXP from $18 to $25.