NXP Semiconductors N.V. NXPI expanded its i.MX 9 series of application processors with the addition of i.MX 95 family processors.
The i.MX 95 family processors include immersive Arm Mali powered 3D graphics, high-performance and multi-core compute, and NXP eIQ Neutron Neural Processing Unit.
The latest processors incorporate a secure enclave for seamless implementation of security critical functions. The processors also implement NXP’s Energy Flex architecture to let developers run real-time safety domain at all times for sensor data monitoring.
By combining the i.MX 95 family processors with its expertise in functional safety, high-performance CPU cores and high-throughput connectivity, NXP aims to set a standard for safe and secure edge platforms.
Based on the above-mentioned features, the recent i.MX 95 processors are useful for machine learning and high-speed data processing for advanced applications in automotive, industrial, networking, connectivity and advanced human machine interface.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
Growing i.MX Application Processors Portfolio
NXP is consistently bringing efficient and reliable portfolio of i.MX applications processors used for various multi-media and display applications. The recent introduction of i.MX 95 family processors is a step forward in this direction.
Apart from the recent launch, the company unveiled the i.MX 93 family of application processors that use machine learning for automotive, smart home, smart building and smart factory applications.
Further, it expanded the EdgeVerse portfolio with i.MX 8ULP, Microsoft Azure Sphere-certified i.MX 8ULP-CS and i.MX 9 applications processors to enhance security, as well as energy efficiency.
We expect the expansion of its portfolio of i.MX application processors to be the key factor behind NXP’s growth in the days ahead.
This, in turn, will help NXPI win the confidence of the investors in the near term and the long haul.
Shares of NXP have lost 29.7% in the past year, outperforming the Computer and Technology sector’s decline of 33.4%.
Booming Application Processors' Prospects
NXP’s strength in the i.MX application processors will continue to help it capitalize in the growing prospects in the application processor market.
Per a MMR report, the global application processor market is expected to reach $38.7 billion by 2027, witnessing a CAGR of 6.7% between 2022 and 2027.
According to an imarc report, the same market is likely to hit $44.3 billion by 2028 from $35.2 billion in 2022, seeing a CAGR of 3.8% during the 2023-2028 period.
Though NXPI’s strengthening efforts toward application processors remain a positive, the coronavirus pandemic-induced supply-chain constraint and mounting expenses continue to remain major headwinds.
Zacks Rank & Stocks to Consider
Currently, NXP Semiconductors carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. While Arista Networks and Asure Software currently sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 14.5% in the past year. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has gained 2.1% in the past year. A’s long-term earnings growth rate is projected at 10%.
Asure Software has returned 34.1% in the past year. The long-term earnings growth rate for ASUR is projected at 23%.
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