NXP Semiconductors (NXPI) on Monday night topped analysts’ estimates for the second quarter on continued strong automotive chip sales. NXPI stock rose in extended trading.
X
The Netherlands-based chipmaker earned an adjusted $3.43 per share on sales of $3.3 billion in the June quarter. Analysts polled by FactSet had predicted NXP earnings of $3.28 per share on sales of $3.21 billion. In the prior year period, NXP earned an adjusted $3.52 per share on sales of $3.31 billion.
In after-hours trading in the stock market today, NXPI stock climbed 1.4% to 213.80. During Monday’s regular session, NXPI stock fell 1.1% to close at 210.88.
Revenue report details will follow.
NXPI stock is a recent breakthrough
NXP manufactures chips for the automotive, industrial, Internet of Things, mobile telephony and communications infrastructure markets.
On June 13, shares broke from a cup base to a buy point of 197.71, according to IBD MarketSmith charts.
NXP Semiconductors ranks fourth out of 32 stocks in IBD’s semiconductor manufacturing industry group, according to IBD Stock Checkup. It has an IBD composite rating of 92 out of 99.
Additionally, NXPI stock is on the IBD Tech Leaders list.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
YOU MIGHT ALSO LIKE:
Investors binge on semiconductor stocks with chipmakers in a dip
How AI chip growth is pushing Broadcom towards a buy point
How weak demand is dampening Taiwan Semi’s prospects – and those of others
See stocks on the leader list near a buy point
Find winning stocks with MarketSmith pattern recognition and custom screens