NXP Semiconductors NV (NASDAQ:NXPI) reported upbeat first-quarter financial results Tuesday after market close.

NXP reported first-quarter revenue of $3.18 billion, up 12% year-over-year. The revenue total beat a Street consensus estimate of $3.16 billion, according to data from Benzinga Pro. The company reported quarterly earnings per share of $3.05, beating a Street consensus estimate of $2.95.

“Our growth reflects sustained investment, disciplined execution and growing customer adoption of our differentiated portfolio, particularly in industrial and automotive processing that supports software-defined vehicles and physical AI,” NXP Semiconductors CEO Rafael Sotomayor said.

The company is guiding for second-quarter revenue of $3.35 billion to $3.55 billion versus a Street consensus estimate of $3.27 billion, according to data from Benzinga Pro. NXP is guiding for second-quarter adjusted earnings per share in a range of $3.29 to $3.72, versus a Street consensus estimate of $3.17.

NXP Semiconductors shares rose 20.2% to $276.98 in pre-market trading.

These analysts made changes to their price targets on NXP Semiconductors following earnings announcement.

  • Needham analyst N. Quinn Bolton maintained NXP Semiconductors with a Buy and raised the price target from $250 to $300.
  • Stifel analyst Tore Svanberg maintained the stock with a Hold and raised the price target from $250 to $282.

Considering buying NXPI stock? Here’s what analysts think:

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