By Jesus Calero

(Reuters) -Norwegian chipmaker Nordic Semiconductor on Wednesday reported consensus-beating second-quarter results and gave a revenue guidance above market expectations for the third quarter, citing stronger demand from major customers and momentum in its new nRF54 product platform.

WHY IT’S IMPORTANT

The company’s bullish Q3 revenue guidance of $165 million to $185 million comes amid optimism in its end markets. It supplies Bluetooth and cellular IoT components for devices from PC accessories to industrial asset trackers.

Logitech recently reported better than expected demand for computer peripherals from both consumer and industrial customers. This reads as a sign of recovery in the semiconductor market after last year’s inventory glut.

MARKET REACTION

Nordic Semico

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