Chip manufacturer NXP Semiconductors (NASDAQ: NXPI) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.
NXP Semiconductors met analysts’ revenue expectations last quarter, reporting revenues of $3.13 billion, down 5.2% year on year. It was a slower quarter for the company, with underwhelming revenue and earnings guidance for the next quarter.
Is NXP Semiconductors a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting NXP Semiconductors’s revenue to decline 5.3% year on year to $3.25 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $3.43 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. NXP Semiconductors has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.2% on average.
Looking at NXP Semiconductors’s peers in the analog semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 46.4%, beating analysts’ expectations by 2.5%, and Monolithic Power Systems reported revenues up 30.6%, topping estimates by 3.3%. Impinj traded down 13.1% following the results while Monolithic Power Systems was also down 17.4%.
Read our full analysis of Impinj’s results here and Monolithic Power Systems’s results here.
Growth stocks have seen elevated volatility as investors debate the Fed’s monetary policy, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 4.6% on average over the last month. NXP Semiconductors is up 2.4% during the same time and is heading into earnings with an average analyst price target of $287.06 (compared to the current share price of $239.69).
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