Needham Believes NXP Semiconductors (NXPI) Still Has Room to Grow

In a report released today, Rajvindra Gill from Needham assigned a Buy rating to NXP Semiconductors (NXPI), with a price target of $240.00. The company’s shares closed last Tuesday at $204.19, close to its 52-week high of $216.43.

According to, Gill is a 5-star analyst with an average return of 18.2% and a 67.4% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

NXP Semiconductors has an analyst consensus of Moderate Buy, with a price target consensus of $212.94, representing a 2.5% upside. In a report issued on April 15, Wells Fargo also maintained a Buy rating on the stock with a $235.00 price target.

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The company has a one-year high of $216.43 and a one-year low of $89.10. Currently, NXP Semiconductors has an average volume of 4.06M.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXPI in relation to earlier this year.

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Founded in 2006, Netherlands-based NXP Semiconductors NV provides various semiconductor products including microcontrollers, application processors, communication processors, wireless connectivity solutions, analog and interface devices, Radio Frequency power amplifiers, and security controllers, as well as semiconductor-based environmental and inertial sensors. Its product solutions are used in a range of applications including, automotive, identification, mobile, consumer, computing, wireless infrastructure, lighting and industrial, and software solutions for mobile phones.

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