Is NXP Semiconductors Stock a Buy?

Microchip giant NXP Semiconductors (NASDAQ: NXPI) was on a roll at the end of 2019. The stock was setting fresh all-time highs as the company recovered from the dual hangovers of Chinese-American trade tensions and the failed merger with Qualcomm. Then the COVID-19 pandemic came along and NXP hit the same brick wall as everyone else.

NXP will report second-quarter results on Monday. Is the stock a good buy on the eve of this important business update?

Share prices have largely recovered and NXP is trading 20% below February's all-time highs. It's painful but still a strong improvement from the 49% year-to-date drop that NXP recorded in March.The recovery rested on a brighter future for car sales around the world and a generally resilient supply and-demand picture for semiconductors.

Source Fool.com