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Nxp Semiconductors nasdaq Nxpi Projects 6 10 Sales Growth over Next Three Years

NXP Semiconductors (NASDAQ: NXPI) Projects 6-10% Sales Growth Over Next Three Years

AMSTERDAM – NXP Semiconductors (NASDAQ: NXPI) expects sales growth averaging 6%-10% over the next three years, CEO Kurt Sievers said on Thursday.

Speaking at the company’s investor day in Boston, Sievers said the automotive chipmaker’s gross margins should be around 60%, with growth coming from increasing adoption of its S32 platform.

On Monday, NXP reported third-quarter earnings that showed weakness in industrial and automotive markets in Europe and the Americas.

(Source: Reuters)