Oppenheimer Believes NXPI Still Has Room to Grow

In a report released today, Rick Schafer from Oppenheimer assigned a Buy rating to NXP Semi. (NASDAQ: NXPI), with a price target of $110. The company’s shares opened today at $101.84, close to its 52-week high of $107.54.

According to TipRanks.com, Schafer is a top 25 analyst with an average return of 15.5% and a 72.3% success rate. Schafer covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Peregrine Semiconductor, and Advanced Micro Devices.

Currently, the analyst consensus on NXP Semi. is Strong Buy and the average price target is $111.50, representing a 9.5% upside.

In a report issued on October 13, Bernstein also maintained a Buy rating on the stock with a $110 price target.

Based on NXP Semi.’s latest earnings report from June 30, the company posted quarterly revenue of $2.37B and quarterly net profit of -$13M. In comparison, last year the company earned revenue of $1.52B and had a net profit of $361M.

NXP Semiconductors NV engages in the provision of secure connectivity solutions for embedded applications. It operates through the High Performance Mixed Signal and Standard Products segments. The High Performance Mixed Signal segment delivers high performance mixed signal solutions to customers to satisfy their system and sub-system needs across eight application areas: automotive, identification, mobile, consumer, computing, wireless infrastructure, lighting, and industrial. The Standard Products segment supplies a broad range of standard semiconductor components, such as small signal discretes, power discretes, protection and signal conditioning devices and standard logic devices, which largely produce in dedicated in-house high-volume manufacturing operations. The company was founded on August 2, 2006 and is headquartered in Eindhovezn, Netherlands.