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

Oppenheimer analyst Rick Schafer assigned a Buy rating to NXP Semiconductors (NXPI) yesterday and set a price target of $235.00. The company’s shares closed last Monday at $205.02, close to its 52-week high of $216.43.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 24.4% and a 81.0% success rate. Schafer covers the Technology sector, focusing on stocks such as Akoustis Technologies, Skyworks Solutions, and Texas Instruments.

Currently, the analyst consensus on NXP Semiconductors is a Moderate Buy with an average price target of $212.35, which is a 4.9% upside from current levels. 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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Based on NXP Semiconductors’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.51 billion and net profit of $309 million. In comparison, last year the company earned revenue of $2.3 billion and had a net profit of $114 million.

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.

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.

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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