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NXP Semiconductors Fall 5% On UBS Growth Forecast

Shares of global semiconductor company NXP Semiconductors N.V. (NXPI) are down 5 percent on Wednesday's trading after financial services firm UBS AG (UBS) said that growth at the company's automotive division will "underperform the auto semis market."

UBS said in a statement, "While we believe NXP will remain a leader in its product categories with a solid business, we expect the automotive division's growth, which is 50 percent of revenues to underperform the automotive semis market, due predominantly to a relatively lower content opportunity in EVs vs. peers such as ON Semiconductor and Infineon."

Currently at $225.70, the stock has traded between $152.93 and $239.91 during the past 52 weeks.

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