Equities research analysts at Topeka Capital Markets started coverage on shares of NXP Semiconductors (NASDAQ: NXPI) in a research note issued to investors on Thursday, StockRatingsNetwork reports. The firm set a “buy” rating and a $36.50 price target on the stock. Topeka Capital Markets’ target price would suggest a potential upside of 21.26% from the company’s current price.
The analysts wrote, “We are initiating coverage of NXP Semiconductor with a Buy rating and a $36.50 price target. While computing and industrial segments remained weak in 1Q13, we expect demand to stabilize and steadily improve in 2H13, removing a revenue headwind. We believe any recovery in wireless infrastructure in 2H13 represents upside to our current model. We believe that NXPI has done a good job reducing its debt burden since coming public in 2010.”
A number of other firms have also recently commented on NXPI. Analysts at Deutsche Bank reiterated a “buy” rating on shares of NXP Semiconductors in a research note to investors on Friday, May 10th. They now have a $35.00 price target on the stock. Separately, analysts at Raymond James cut their price target on shares of NXP Semiconductors from $36.00 to $33.00 in a research note to investors on Tuesday, April 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Zacks downgraded shares of NXP Semiconductors from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, April 9th. They now have a $34.60 price target on the stock.
Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.51.
Shares of NXP Semiconductors (NASDAQ: NXPI) traded down 1.54% during mid-day trading on Thursday, hitting $30.10. NXP Semiconductors has a 52 week low of $18.57 and a 52 week high of $32.99. The stock’s 50-day moving average is currently $29.38. The company’s market cap is $7.526 billion.
NXP Semiconductors (NASDAQ: NXPI) last announced its earnings results on Monday, April 22nd. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.23. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Analysts expect that NXP Semiconductors will post $2.86 EPS for the current fiscal year.
NXP Semiconductors N.V. (NASDAQ: NXPI) is a global semiconductor company and a supplier.
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