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Berenberg initiated coverage of Nordic Semiconductor ASA (OSE:OL:NOD) with a buy rating and a price target of NOK165.00, representing a potential 20% upside for the Norwegian chipmaker’s stock.
The research firm identified Nordic Semiconductor as a leader in Bluetooth Low Energy (BLE) chips, positioning the company to capitalize on the projected 20% compound annual growth rate in BLE-enabled devices through 2028.
Berenberg noted that improving market conditions and a planned 2026 next-generation chip launch should enable Nordic Semiconductor to outpace market growth and strengthen its leadership position following a two-year industry downturn.
The firm highlighted the company’s 2024 restructuring efforts, which reset its cost base ahead of the anticipated next growth cycle, creating operational efficiency improvements that Berenberg believes are underappreciated by the market.
Nordic Semiconductor operates as a fabless semiconductor designer, focusing on wireless communication technologies that power Internet of Things devices across various consumer and industrial applications.
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