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NXP Semiconductors (NXPI) Stock Price Target Lowered at Pacific Crest

NEW YORK (TheStreet) -- NXP Semiconductors (NXPI - Get Report) stock price target was reduced to $100 from $105 at Pacific Crest, which also maintained its "overweight" rating.

The Eindhoven, Netherlands-based company manufactures semiconductors.

The firm sees a favorable risk and reward as concerns are already reflected in the stock's lowered multiple and underperformance year-to-date.

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Pacific Crest also lowered its near and long-term estimates, but continue to like the company's transformation and secular exposure to automotive.

"Our lowered estimates reflect (1) a more...