How Nordic’s First Direct-to-Satellite IoT Step At Nordic Semiconductor (OB:NOD) Has Changed Its Investment Story

• In December 2025, Nordic Semiconductor launched the nRF9151 SMA Development Kit and new modem firmware, enabling RF engineers to evaluate cellular IoT, DECT NR+, and direct-to-satellite NB-IoT NTN connectivity with external antennas and precise lab measurements.
• This move extends Nordic’s portfolio beyond traditional terrestrial IoT into hybrid terrestrial-satellite solutions, potentially broadening its role in challenging RF environments such as remote, industrial, and dense smart-building deployments.
• We’ll now explore how Nordic’s first step into direct-to-satellite IoT connectivity could influence its existing investment narrative and growth assumptions.

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Nordic Semiconductor Investment Narrative Recap

To own Nordic Semiconductor, you need to believe it can turn its low current return on equity into sustained, profitable growth by expanding its low power IoT and solutions stack. The new nRF9151 SMA kit and NTN firmware look incremental rather than a major near term catalyst, but they do reinforce the thesis that ongoing product innovation is central to defending margins in a business where Nordic already trades at a premium sales multiple.

The acquisition of Memfault earlier in 2025 is particularly relevant here, as it extends Nordic’s chip to cloud capabilities just as it enters more complex hybrid terrestrial satellite IoT use cases. Together, Memfault’s lifecycle management platform and the NTN enabled nRF9151 portfolio strengthen the solutions provider story that many investors already see as a key driver behind consensus expectations for faster revenue and earnings growth than the broader Norwegian market.

Yet against this innovation story, one risk investors should be aware of is...

Read the full narrative on Nordic Semiconductor (it's free!)

Nordic Semiconductor's narrative projects $923.1 million revenue and $100.0 million earnings by 2028. This requires 13.7% yearly revenue growth and roughly a $86 million earnings increase from $13.6 million today.

Uncover how Nordic Semiconductor's forecasts yield a NOK145.70 fair value, a 11% upside to its current price.

Exploring Other Perspectives

Five Simply Wall St Community fair value estimates for Nordic range from NOK64.35 to NOK190, underlining how far apart individual views can be. Some community members focus on product expansion into areas like direct to satellite IoT as a potential support for the existing growth narrative, while others may weigh that against concerns about today’s premium price to sales multiple and still modest profitability.

Explore 5 other fair value estimates on Nordic Semiconductor - why the stock might be worth as much as 44% more than the current price!

Build Your Own Nordic Semiconductor Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Nordic Semiconductor research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free Nordic Semiconductor research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Nordic Semiconductor's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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