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NXP Semiconductors Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Thu, 02/28/2013 - 15:16
By Peter Chu

NXP Semiconductors (NASDAQ:NXPI) traded at a new 52-week high today of $32.99. This new high was reached on below average trading volume as 973,000 shares traded hands, while the average 30-day volume is approximately 2.8 million shares.

In the past 52 weeks, NXP Semiconductors share prices have been bracketed by a low of $18.57 and a high of $32.99 and are now at $32.75, 76% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.4%.

NXP Semiconductors NV operates as a global semiconductor company. The Company designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking. NXP offers its products to the automotive, identification, wireless infrastructure, lighting, mobile, and computing applications.

There is potential upside of 9.3% for shares of NXP Semiconductors based on a current price of $32.75 and an average consensus analyst price target of $35.80. The stock should find initial support at its 50-day moving average (MA) of $29.04 and further support at its 200-day MA of $24.64.

By Peter Chu