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NXP Semiconductors (NXPI): Top Pick at Jefferies

July 29, 2016 8:33 AM EDT
Get Alerts NXPI Hot Sheet
Price: $247.77 +0.95%

Rating Summary:
    22 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Jefferies analyst, Mark Lipacis, reiterated his Buy rating on shares of NXP Semiconductors NV (NASDAQ: NXPI) and reiterated his price target of $130.00 after NXPI reported solid 2Q results and a higher 3Q EPS outlook. The analyst thinks Q4 seasonality--ex-2015's inventory correction--is -2% for NXP/FSL combined, and he models a flat Q4 on secular content gains in Auto and iPhone7 ramp.

NXPI's 2Q sales of $2.37B were slightly above consensus $2.35B. Lower opex drove better profitability, resulting in EPS of $1.39, 3c above consensus. NXPI expects 3Q sales of $2.47B, slightly below consensus $2.48B, while OM outlook of 27.5% is above consensus 26.8% and implied EPS of $1.62 is 2c ahead of consensus $1.60.

The analyst is modeling EPS of $7.50 in C'17, driven by operating margin expansion and buybacks. NXPI remains one of the analyst's top picks.

For an analyst ratings summary and ratings history on NXP Semiconductors NV click here. For more ratings news on NXP Semiconductors NV click here.

Shares of NXP SNXP Semiconductors (NASDAQ: NXPI)
emiconductors NV closed at $84.35 yesterday.



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