Why NXP Semiconductors Shares Are Trading Lower Today

NXP Semiconductors NV NXPI shares are trading lower Thursday afternoon after Mizuho downgraded the stock from Buy to Neutral and lowered its price target from $225 to $220.

NXP Semiconductors is a leading supplier of high-performance mixed-signal products. The firm acquired Freescale Semiconductor in 2015 and now has a significant market share in the automotive market, where it supplies microcontrollers and analog chips into automotive clusters, powertrains, infotainment systems, and radars.

NXP Semiconductors has a 52-week high of $216.43 and a 52-week low of $114.38. At the time of publication, shares were trading 4.9% lower at $193.70.