NXP

By Jacob Sonenshine Chip stocks are flying — except the chip stocks that do business with auto makers. That’s created a buying opportunity in NXP Semiconductors, which should be able to buck the sector’s weakness when it reports earnings in February. The iShares Semiconductor exchange-traded fund hit a record high this past week, but that didn’t help the companies with exposure to auto companies. From Texas Instruments this past Wednesday to ON Semiconductor and Mobileye Global in recent weeks, auto-focused chip stocks have been warning about the slowdown — and watching their stocks tumble. Based on auto exposure alone, NXP should be a stock to avoid. It gets 56% of its sales from that industry, and it offered up disappointing guidance in November, when it said it would deliver fourth-quarter sales of $3.4 billion, up just 2.7% year over year. That’s slow growth compared with the 7% annual clip it […]

NXP Semiconductors (NASDAQ:NXPI) reported Q2 adjusted earnings  of $3.43 per diluted share, down from $3.52 a year earlier. Analysts surveyed by Capital IQ expected $3.28. Revenue for the quarter ended July 2 was $3.30 billion, down from $3.31 billion a year earlier. Analysts surveyed by Capital IQ expected $3.21 billion. NXP Semiconductors said it expects Q3 non-GAAP diluted earnings of $3.39 to $3.82. Analysts surveyed by Capital IQ expect $3.42. The company also expects revenue for the quarter of $3.30 billion to $3.50 billion. Analysts surveyed by Capital IQ expect $3.31 billion.