Why NXP Semiconductors Stock Rose 20% Last Month

Shares of NXP Semiconductors (NASDAQ: NXPI) soared 20.1% in April, according to data from S&P Global Market Intelligence. The chipmaker's stock tracked the S&P 500 until April 23, when solid earnings reports from two of NXP's closest rivals drove the entire embedded semiconductor sector higher. NXP's own report at the end of the month was less impressive, but the company made up for that weakness with solid next-quarter earnings guidance.

Fellow embedded-chip makers STMicroelectronics (NYSE: STM) and Texas Instruments (NASDAQ: TXN) got the party started with respectable first-quarter reports. Both companies targeted a return to healthy growth in the second half of 2020, and NXP's shareholders applauded every word of that forecast.

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Source Fool.com