Chip manufacturer NXP Semiconductors (NASDAQ: NASDAQ:NXPI) will be announcing earnings results tomorrow afternoon. Here's what to expect.
NXP Semiconductors met analysts' revenue expectations last quarter, reporting revenues of $3.42 billion, up 3.3% year on year. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter.
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This quarter, analysts are expecting NXP Semiconductors's revenue to be flat year on year at $3.13 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $3.18 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they are expecting the business to stay the course heading into earnings. NXP Semiconductors has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.5% on average.
Looking at NXP Semiconductors's peers in the semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments (NASDAQ:TXN)'s revenues decreased 16.4% year on year, beating analysts' expectations by 1.4%, and Impinj reported a revenue decline of 10.6%, topping Wall Street's consensus estimates by 4.4%. Texas Instruments traded up 5.7% following the results while Impinj was also up 14.3%.
Read the full analysis of Texas Instruments's and Impinj's results on StockStory.
Growth stocks have been quite volatile to start 2024, and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 2.9% over the last month. NXP Semiconductors is down 1% during the same time and is heading into earnings with an average analyst price target of $249.1 (compared to share price of $243.8).