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Downgrade Alert for NXP Semiconductors (NXPI)

By James Quinn

NXP Semiconductors (NASDAQ:NXPI) was downgraded from Buy to Hold at Drexel Hamilton today. The stock closed yesterday at $99.08 on volume of 36.6 million shares, above average daily volume of 4.0 million.

In the past 52 weeks, NXP Semiconductors share prices have been bracketed by a low of $61.61 and a high of $114.00 and closed yesterday at $99.08, 61% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.7%.

NXP Semiconductors (NASDAQ:NXPI) has potential upside of 3.8% based on a current price of $99.08 and analysts' consensus price target of $102.86. The stock should discover initial support at its 200-day moving average (MA) of $82.95 and subsequent support at its 50-day MA of $81.19.

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.

SmarTrend recommended that subscribers consider buying shares of NXP Semiconductors on September 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.79. Since that recommendation, shares of NXP Semiconductors have risen 9.9%. We continue to monitor NXPI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades nxp semiconductors

Ticker(s): NXPI