/NXP%20Semiconductors%20NV%20MC9S08%20microcontroller-by%20Remus%20Rigo%20via%20Shutterstock.jpg)
NXP Semiconductors N.V. (NXPI) is a leading global semiconductor manufacturer with a market cap of $69.62 billion. Headquartered in Eindhoven, Netherlands, NXP operates across numerous countries, providing innovative solutions for automotive, industrial, mobile, and communications infrastructure markets. The company is scheduled to report its fiscal second-quarter earnings for 2024 after the market closes on Monday, Jul. 22.
Ahead of the event, analysts expect NXPI to report a profit of $2.82 per share, down 7.2% from $3.04 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $2.85 per share for the last reported quarter missed the consensus estimate by 2.5%. It was a weaker quarter for the company, with increased inventory levels.
For fiscal 2024, analysts expect NXPI to report EPS of $12.47, down 1.8% from $12.70 in fiscal 2023. However, its fiscal 2025 EPS is expected to grow 14.3% yearly to $14.25.
NXPI stock is up 20% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 16.1% returns. However, the stock lagged behind the VanEck Semiconductor ETF (SMH), which has gained 54.6% over the same time frame.
NXP Semiconductors shares rose over 3% after the company reported its first-quarter results on April 30. Revenue of $3.13 billion was in line with Wall Street expectations. For the second quarter, NXPI anticipates revenue between $3.025 billion and $3.225 billion, aligning with analysts' estimates of $3.12 billion.
The consensus opinion on NXPI stock is optimistic, with an overall “Moderate Buy” rating. Out of 25 analysts covering the stock, 14 advise a “Strong Buy” rating, two recommend a “Moderate Buy,” eight analysts give a “Hold,” and one recommends a “Strong Sell.” This configuration is slightly more bullish than three months ago when the stock had 12 “Strong Buy” ratings.
The average analyst price target for NXPI is $282.62, indicating a potential upside of 3.8% from the current levels.
On the date of publication, Rashmi Kumari 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.
