Chip manufacturer NXP semiconductors (NASDAQ: NASDAQ:) will report earnings results tomorrow afternoon. This is what you can expect.
NXP Semiconductors met analyst revenue expectations last quarter, reporting revenue of $3.42 billion, up 3.3% year over year. It was a slower quarter for the company, with disappointing revenue expectations for the following quarter.
Is a buy or sell for NXP Semiconductors profitable? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts expect NXP Semiconductors’ revenue to remain flat year over year at $3.13 billion, in line with flat revenue from the same quarter last year. Adjusted earnings are expected to be $3.18 per share.
The majority of analysts covering the company have reaffirmed their estimates over the last thirty days, suggesting they expect the company to continue its trajectory on the earnings front. NXP Semiconductors has a history of exceeding Wall Street expectations, beating revenue expectations by an average of 1.5% each time over the past two years.
Looking at NXP Semiconductors’ peers in the semiconductor segment, some have already reported their first quarter results, which gives us an idea of what to expect. Texas Instruments (NASDAQ:) revenue fell 16.4% year-over-year, beating analyst expectations by 1.4%, and Impinj reported a 10.6% decline in revenue, beating Wall Street’s consensus estimates by 4. 4% were exceeded. Texas Instruments rose 5.7% after the results, while Impinj also rose 14.3%.
Read the full analysis of Texas Instruments and Impinj results on StockStory.
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Growth stocks have been quite volatile in early 2024, and while some semiconductor stocks have done slightly better, they haven’t been spared, with the share price down 2.9% over the past month. NXP Semiconductors is down 1% over the same period and heading for gains with an average price target of $249.1 (compared to the stock price of $243.8).
