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What Affected NXP Semiconductor Stock on September 25?

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Dec. 4 2020, Updated 10:42 a.m. ET

Stock trading at $14.57

NXP Semiconductor (NXPI) stock fell 5% on September 25 and closed at $86.51 per share. The company lost ~$1.6 billion in market value on the day. The stock is currently trading 2.3% above its 52-week low of $84.59 and 31.0% below its 52-week high of $125.93. This stock has been pummelled in 2018 with a fall of 26% this year. In the last three months, the stock has fallen 21%.

There have been concerns about the performance of semiconductor stocks over the last few months due to declining chip prices and the trade war with China (FXI). Micron (MU), Analog Devices (ADI), and Applied Materials (AMAT) have fallen 15%, 6.4%, and 10.3%, respectively, in September 2018.

NXP’s earnings have missed analyst estimates in the last two quarters, which could have impacted its stock price in 2018. Analysts expect the company’s sales to rise 1.9% YoY to $9.43 billion in fiscal 2018 and 5.1% to $9.91 billion in fiscal 2019.

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Analyst estimates

Bank of America (BAC) upgraded the stock from a “buy” to a “neutral” on September 17. Earlier this month, Stifel Nicolaus downgraded NXP to “sell” from “hold.”

Of the 17 analysts covering NXP, two recommend a “buy,” 14 recommend a “hold,” and one recommends a “sell.” The average 12-month price target estimate is $109.06, indicating that the stock is trading at a 26.0% discount to its average estimates.

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