NXP Semiconductors stock rises on strong Q1, guidance
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NXP Semiconductors (NASDAQ:NXPI) shares rose more than 2% but were well off session highs on Tuesday as the Dutch-based analog chip provider was buoyed by strong first-quarter results and guidance.
For the period ending April 2, NXP (NXPI) said it earned $3.19 per share, excluding one-time items, on $3.12B in revenue. Analysts were forecasting $3.12 per share, excluding one-time items, and $3B in sales.
The Kurt Sievers-led company said its GAAP gross margin during the period was 56.7% and its operating margin was 26.4%, while its adjusted gross and operating margins were 58.2% and 34.8%, respectively.
NXP (NXPI) also generated $632M in cash flow from operations and it had an adjusted free cash flow of $381M during the period.
Looking ahead, NXP (NXPI) forecast second-quarter sales to be between $3.1B and $3.3B, topping the $3.04B that analysts expected. The company expects adjusted earnings to be between $3.07 and $3.49 per share.
Shares of other analog semiconductor companies were mixed in pre-market trading, as Texas Instruments (TXN) dipped while Analog Devices (ADI) rose fractionally.
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