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NXP Semiconductors N.V. (NXPI), headquartered in Eindhoven, the Netherlands, is a global semiconductor company that designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking. Valued at $69.39 billion by market cap, the company provides innovative solutions in the automotive, industrial and IoT, mobile, and communications infrastructure markets.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and NXPI perfectly fits that description, signifying its substantial size, stability, and dominance in its industry. The company has operations in more than 30 countries.
The semiconductor company has fallen 5.4% from its 52-week high of $286.87, which it hit on Jun. 12. Shares of NXPI are up 14.7% over the past three months, outperforming the broader Nasdaq Composite’s ($NASX) 10.9% gains over the same time frame.
Longer term, NXPI shares have risen 37.2% over the past year, and in 2024, the stock is up 18.2%. By contrast, the NASX is up 19% on a YTD basis and 30.5% over the past 52 weeks.
The stock has been trading above its 50-day moving average since late April and its 200-day moving average since mid-November 2023, indicating a bullish price trend.
On Apr. 30, NXPI shares rose more than 3% after the company reported its Q1 results. The company reported an adjusted EPS of $3.24, beating the consensus of $3.18. The chipmaker matched Wall Street estimates by posting revenue of $3.13 billion. For the second quarter, NXPI expects adjusted EPS between $3.00 and $3.41, with the midpoint above the consensus estimate of $3.12. It guided revenue for the current quarter between $3.025 billion and $3.225 billion, in line with analysts’ $3.12 billion estimate.
Rival Analog Devices, Inc. (ADI) has outperformed NXPI with 18.5% gains on a YTD basis. However, NXPI’s gains over the past 52 weeks outshine ADI’s 25% returns over this period.
With its recent outperformance compared to NASX, analysts remain optimistic about NXPI’s prospects. The stock has a consensus rating of “Moderate Buy” from the 25 analysts covering it, and the mean price target of $282.62 is a 4.1% premium to current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
