Price Action Don’t Lie: What Next for NXP Semiconductors NV After Today’s Gap Up?

Price Action Don't Lie: What Next for NXP Semiconductors NV After Today's Gap Up?

The stock of NXP Semiconductors NV (NASDAQ:NXPI) gapped up by $1.61 today and has $154.04 target or 51.00% above today’s $102.01 share price. The 8 months technical chart setup indicates low risk for the $41.25 billion company. The gap was reported on Oct, 1 by Barchart.com. If the $154.04 price target is reached, the company will be worth $21.04B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 6.13% or $5.89 during the last trading session, hitting $102.01. About 23.75 million shares traded hands or 578.57% up from the average. NXP Semiconductors NV (NASDAQ:NXPI) has risen 43.19% since February 29, 2016 and is uptrending. It has outperformed by 32.77% the S&P500.

Analysts await NXP Semiconductors NV (NASDAQ:NXPI) to report earnings on October, 26. They expect $1.37 earnings per share, down 4.20% or $0.06 from last year’s $1.43 per share. NXPI’s profit will be $553.99M for 18.61 P/E if the $1.37 EPS becomes a reality. After $1.16 actual earnings per share reported by NXP Semiconductors NV for the previous quarter, Wall Street now forecasts 18.10% EPS growth.

NXP Semiconductors NV (NASDAQ:NXPI) Ratings Coverage

Out of 22 analysts covering NXP Semiconductors NV (NASDAQ:NXPI), 19 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 86% are positive. NXP Semiconductors NV has been the topic of 27 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of NXP Semiconductors NV (NASDAQ:NXPI) has “Neutral” rating given on Monday, June 27 by Bank of America. Topeka Capital Markets maintained the shares of NXPI in a report on Friday, February 5 with “Buy” rating. On Monday, April 11 the stock rating was initiated by Nomura with “Buy”. The stock of NXP Semiconductors NV (NASDAQ:NXPI) has “Outperform” rating given on Friday, October 30 by BMO Capital Markets. Sterne Agee CRT initiated the stock with “Buy” rating in Wednesday, September 9 report. As per Wednesday, February 3, the company rating was initiated by Goldman Sachs. SunTrust maintained it with “Buy” rating and $140 target price in Tuesday, September 1 report. The firm earned “Buy” rating on Wednesday, July 20 by Summit Redstone Partners. CLSA initiated the shares of NXPI in a report on Tuesday, May 17 with “Buy” rating. Canaccord Genuity maintained it with “Buy” rating and $120 target price in Friday, October 30 report.

According to Zacks Investment Research, “NXP Semiconductors N.V. is a global semiconductor company. The Company designs and manufactures High Performance Mixed Signal semiconductor solutions to meet the requirements of systems and sub-systems in its target markets. High Performance Mixed Signal solutions are an optimized mix of analog and digital functionality integrated into a system or sub-system. The Company’s expertise is in RF, analog, power management, interface, security and digital processing products. NXP’s solutions are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. The Company claims to provide its customers improved power efficiency, functional performance, miniaturization, quality, durability and adaptability in their electronic systems and application solutions. NXP is based in Eindhoven, the Netherlands, with research and development activities in Asia, Europe and the United States, and manufacturing facilities in Asia and Europe.”

More notable recent NXP Semiconductors NV (NASDAQ:NXPI) news were published by: Reuters.com which released: “NXP Semiconductors explores sale to Qualcomm: sources” on September 29, 2016, also Schaeffersresearch.com with their article: “Buzz Stocks: Catabasis Pharmaceuticals Inc, NXP Semiconductors NV, and …” published on September 30, 2016, Fool.com published: “Better Buy: NVIDIA Corporation vs. NXP Semiconductors, NV” on September 16, 2016. More interesting news about NXP Semiconductors NV (NASDAQ:NXPI) were released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Apple, Coach, Encana, NXP Semiconductors …” published on September 30, 2016 as well as Benzinga.com‘s news article titled: “Evercore: Rumors Of Qualcomm Buying NXP Semiconductors Could Be ‘Very Real'” with publication date: September 29, 2016.

NXPI Company Profile

NXP Semiconductors N.V. (NXP), incorporated on August 2, 2006, is a holding company. The Firm operates as a semiconductor firm and a long-standing supplier. The Firm provides high performance mixed signal and standard product solutions. The Company’s divisions include High Performance Mixed Signal (HPMS), Standard Products (SP), and Corporate and Other. The Company’s product solutions are used in a range of end-market applications, including automotive, personal security and identification, wireless and wireline infrastructure, mobile communications, multi-market industrial, consumer and computing. It engages with global original equipment manufacturers (OEMs) and sells products in all geographic regions.

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