Time: 2024-07-23
NXP Semiconductors ( NASDAQ : NXPI ) is set to release its second - quarter financial results after the closing bell on Monday , July 22 . Analysts are expecting the Eindhoven , Netherlands - based company to report quarterly earnings at .21 per share , down from .43 per share in the year - ago period . Revenue is anticipated to be .13 billion , a slight decline from the previous year.
In the last quarter , NXP Semiconductors met analysts ' revenue expectations , reporting .13 billion in revenues , which were flat year on year . However , there was a miss in EPS estimates and an increase in inventory levels . Analysts are now predicting a further decline in revenue for the current quarter , projecting a 5.3 % decrease year on year to .12 billion , with adjusted earnings expected to be .20 per share.
Analysts believe that generative AI will have a significant impact on corporations in the future . While companies like Nvidia and AMD are reaching all - time highs , there is a preference for a lesser - known yet profitable semiconductor stock that is benefiting from the rise of AI . Investors in the semiconductor sector have maintained steady hands leading up to earnings , with NXP Semiconductors currently holding an average analyst price target of 92.3.
Looking at analyst ratings , several analysts have made recent adjustments to their recommendations for NXP Semiconductors . Stifel analyst Tore Svanberg maintained a Hold rating and raised the price target to 75 . Barclays analyst Blayne Curtis increased the price target to 30 with an Overweight rating . Cantor Fitzgerald analyst C J Muse also raised the price target to 50 with an Overweight rating . Additionally , Citigroup analyst Christopher Danely raised the price target to 20 with a Sell rating , while Oppenheimer analyst Rick Schafer increased the price target to 30 with an Outperform rating.
In conclusion , as NXP Semiconductors prepares to announce its earnings , analysts and investors are closely monitoring the company 's performance and market reactions to make informed decisions moving forward . Stay tuned for the latest updates on NXP Semiconductors and its impact on the semiconductor industry.
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