NXP gains on Barclays PT hike; buybacks, Apple/Samsung in focus

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

Barclays' Blaine Curtis has upped his NXP (NXPI +4.4%) PT to $73, while reiterating an Overweight. Shares have made fresh highs in response.

Curtis expects Samsung's Galaxy S5 to rely on an NXP NFC chip; Samsung tapped Broadcom (BRCM) to supply the S4's NFC chip. He also talks about a strategic relationship with Apple for mobile payments, and predicts NXP will be aggressive in using its 25M-share buyback authorization.

Apple has been reported to be working on a mobile payments service, and NXP manufactures the M7 motion co-processor found in the iPhone 5S and iPad Air. However, Apple has thus far held off on including NFC chips within its hardware.

NXP shares rallied last week thanks to a Q4 beat.