芯片公司被看衰，或暴跌

Core Viewpoint - UBS has downgraded the rating of Nordic Semiconductor from "Neutral" to "Sell," raising the target price from 115 NOK to 121 NOK, indicating a potential 23% decline from current levels [2] Group 1: Company Performance - Nordic Semiconductor reported Q2 sales of $164 million, up from $127.95 million year-over-year and exceeding market expectations of $154.6 million [3] - The growth was primarily driven by a 14% quarter-over-quarter increase in the consumer segment, while the industrial and healthcare segments remained stable [3] - The gross margin was 50.7%, slightly above the expected 50%, and increased by 120 basis points from the previous quarter [3] - EBITDA margin reached 7.0%, significantly higher than the market expectation of 3.1% [3] Group 2: Future Outlook - For Q3 2025, Nordic Semiconductor expects revenue between $165 million and $185 million, approximately 7% above the expected median, attributed to the gradual recovery of both large and small key customers [3] - The company anticipates a gross margin of around 50% for this period, aligning with expectations [3] - Analysts express concerns about the sustainability of the 20% growth rate beyond 2025, with Jefferies reiterating a "Underperform" rating [3]