Analyst Mark Lipacis of Jefferies commented on NXP Semiconductors NV (NASDAQ:NXPI) after the company released its 2Q earnings report. The company posted better than expected sales of $2.37 billion and EPS of $1.39. The analyst states, “We think NXPI’s multiple will expand if it sustains a high backlog. NXPI remains a top pick.”

The analyst reiterates a Buy rating on the company with a $130 price target.

According to TipRanks, Mark Lipacis is ranked #14 out of 4,087 analysts. He has a78% success rate recommending stocks with an average return of 20.3% per recommendation.