.png "NXP Semiconductors (NASDAQ: NXPI)")
Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on NXP Semiconductors (NASDAQ: NXPI) today and set a price target of $115. The company’s shares opened today at $88.41, close to its 52-week low of $84.59.
Rakesh observed:
“We believe NXPI continues to see strong automotive and industrial tailwinds, is outgrowing TAMs with increasing auto content with ADAS and electrification, and industrial growth with core 32 bit MCUs and emerging IoT. NXP also benefits from a new focus on returning cash to shareholders with the $5B buyback still having $1.2B remaining and a new ~1% dividend. We are buyers on the pullback. Reiterating our Buy- $115PT.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 25.3% and a 63.9% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Currently, the analyst consensus on NXP Semiconductors is a Moderate Buy with an average price target of $109.42, representing a 23.8% upside. In a report issued on September 7, Cowen & Co. also initiated coverage with a Buy rating on the stock with a $111 price target.
.
See today’s analyst top recommended stocks >>
Based on NXP Semiconductors’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.29 billion and net profit of $54 million. In comparison, last year the company earned revenue of $2.2 billion and had a net profit of $49 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
NXP Semiconductors NV is a holding company, which engages in the development, manufacture, and provision of mixed-signal semiconductor solutions. It operates through the following segments: High Performance Mixed Signal, Standard Products, and Corporate and Other.
Read More on NXPI:
